Silence Therapeutics (NASDAQ:SLN) Trading Down 8.7% – Time to Sell?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s share price was down 8.7% during trading on Wednesday . The company traded as low as $11.28 and last traded at $11.2150. 234,744 shares were traded during trading, a decline of 59% from the average session volume of 575,343 shares. The stock had previously closed at $12.29.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLN. Morgan Stanley lifted their price objective on shares of Silence Therapeutics from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research note on Wednesday, June 17th. Cantor Fitzgerald began coverage on Silence Therapeutics in a report on Wednesday, June 24th. They issued an “overweight” rating for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Silence Therapeutics in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Silence Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $53.50.

Silence Therapeutics Trading Down 5.8%

The stock has a 50-day moving average price of $12.74 and a 200 day moving average price of $9.11. The stock has a market capitalization of $696.99 million, a price-to-earnings ratio of -9.03 and a beta of 1.45.

Silence Therapeutics (NASDAQ:SLN) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.12). Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 106.94%. Equities research analysts anticipate that Silence Therapeutics PLC Sponsored ADR will post -1.03 earnings per share for the current year.

Institutional Investors Weigh In On Silence Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Silence Therapeutics by 18.1% during the 2nd quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock worth $121,000 after purchasing an additional 1,698 shares during the last quarter. Seven Fleet Capital Management LP lifted its position in Silence Therapeutics by 6.2% in the first quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company’s stock valued at $826,000 after buying an additional 9,159 shares during the last quarter. AXQ Capital LP purchased a new position in Silence Therapeutics during the second quarter worth about $138,000. Squarepoint Ops LLC increased its position in shares of Silence Therapeutics by 29.6% during the second quarter. Squarepoint Ops LLC now owns 115,918 shares of the company’s stock valued at $1,273,000 after acquiring an additional 26,449 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Silence Therapeutics by 903.8% during the first quarter. Bank of America Corp DE now owns 29,773 shares of the company’s stock valued at $157,000 after acquiring an additional 26,807 shares during the last quarter. Hedge funds and other institutional investors own 98.73% of the company’s stock.

Silence Therapeutics Company Profile

Silence Therapeutics plc is a biotechnology company focused on developing medicines that use small interfering RNA (siRNA) to selectively reduce the production of disease-related proteins. Its proprietary mRNAi GOLD platform is designed to identify and silence specific messenger RNA targets, with the aim of producing durable effects from infrequent dosing.

The company’s pipeline includes zerlasiran, formerly known as SLN360, an investigational therapy designed to reduce production of lipoprotein(a), a genetically determined risk factor associated with cardiovascular disease.