Silence Therapeutics (NASDAQ:SLN) Stock Rating Cut to “Hold” at Chardan Capital

Chardan Capital cut shares of Silence Therapeutics (NASDAQ:SLN) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks reports.

Several other brokerages also recently issued reports on SLN. William Blair downgraded shares of Silence Therapeutics from an “outperform” rating to a “hold” rating in a research report on Monday. Morgan Stanley boosted their target price on shares of Silence Therapeutics from $25.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. HC Wainwright downgraded shares of Silence Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $75.00 to $20.00 in a research note on Wednesday. Cantor Fitzgerald assumed coverage on shares of Silence Therapeutics in a research note on Wednesday, June 24th. They issued an “overweight” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a report on Thursday, October 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.00.

Silence Therapeutics Price Performance

Shares of SLN opened at $19.67 on Wednesday. The stock’s 50-day moving average is $12.67 and its two-hundred day moving average is $9.92. The stock has a market cap of $1.18 billion, a PE ratio of -15.37 and a beta of 1.45. Silence Therapeutics has a 12 month low of $4.19 and a 12 month high of $19.67.

Silence Therapeutics (NASDAQ:SLN) last posted its earnings results on Monday, August 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts anticipate that Silence Therapeutics will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On Silence Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Silence Therapeutics by 18.1% in the 2nd quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock valued at $121,000 after purchasing an additional 1,698 shares in the last quarter. AXQ Capital LP purchased a new position in shares of Silence Therapeutics during the 2nd quarter valued at approximately $138,000. Bank of America Corp DE grew 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 worth $157,000 after buying an additional 26,807 shares in the last quarter. Squarepoint Ops LLC grew 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 worth $1,273,000 after buying an additional 26,449 shares in the last quarter. Finally, Seven Fleet Capital Management LP grew its position in shares of Silence Therapeutics by 6.2% during the first quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company’s stock worth $826,000 after buying an additional 9,159 shares in the last quarter. 98.73% of the stock is currently owned by hedge funds and other institutional investors.

About Silence Therapeutics

Silence Therapeutics plc is a clinical-stage biotechnology company focused on developing medicines that use small interfering RNA (siRNA) to selectively reduce the production of disease-related proteins. Its approach is designed to intervene at the genetic messenger RNA stage, potentially providing targeted and durable effects for patients with serious diseases.

The company’s proprietary mRNAi GOLD platform supports the design and delivery of siRNA medicines, including compounds intended to target tissues such as the liver.