Silence Therapeutics (NASDAQ:SLN) Shares Down 5.1% – Here’s What Happened

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) dropped 5.1% on Monday . The stock traded as low as $4.34 and last traded at $4.51. Approximately 300,289 shares traded hands during trading, an increase of 12% from the average daily volume of 269,072 shares. The stock had previously closed at $4.75.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wall Street Zen upgraded Silence Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.60.

Silence Therapeutics Stock Down 5.1%

The stock has a market cap of $213.01 million, a price-to-earnings ratio of -3.34 and a beta of 1.35. The business’s 50 day simple moving average is $5.80 and its 200 day simple moving average is $5.83.

Silence Therapeutics (NASDAQ:SLN) last issued its earnings results on Thursday, November 6th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.05). The firm had revenue of $0.16 million during the quarter, compared to analyst estimates of $3.28 million. Silence Therapeutics had a negative net margin of 254.25% and a negative return on equity of 61.76%. Equities research analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

A number of large investors have recently added to or reduced their stakes in SLN. Evelyn Partners Investment Management Services Ltd boosted its position in Silence Therapeutics by 481.3% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 14,334 shares of the company’s stock worth $77,000 after purchasing an additional 11,868 shares during the period. Beacon Pointe Advisors LLC acquired a new stake in shares of Silence Therapeutics during the 2nd quarter worth about $67,000. Boothbay Fund Management LLC boosted its holdings in shares of Silence Therapeutics by 1.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 252,421 shares of the company’s stock worth $1,464,000 after buying an additional 2,409 shares during the period. Massar Capital Management LP acquired a new position in Silence Therapeutics in the 2nd quarter valued at about $115,000. Finally, UBS Group AG raised its holdings in Silence Therapeutics by 34.5% in the 3rd quarter. UBS Group AG now owns 307,363 shares of the company’s stock valued at $1,595,000 after acquiring an additional 78,854 shares during the period. Institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

Silence Therapeutics plc is a clinical-stage biotechnology company focused on the discovery and development of ribonucleic acid interference (RNAi) therapeutics. Leveraging its proprietary EnCore lipid nanoparticle delivery platform, the company aims to silence disease-causing genes in the liver and other tissues. Silence’s technology is designed to enhance targeted delivery of small interfering RNA (siRNA) molecules, with the goal of achieving durable therapeutic effects and improved safety profiles compared with traditional drug modalities.

The company’s lead product candidates include SLN360, an siRNA therapeutic designed to reduce lipoprotein(a) levels for cardiovascular risk reduction, and SLN124, aimed at treating hereditary hemochromatosis and beta-thalassemia by modulating iron metabolism.