Silence Therapeutics (NASDAQ:SLN) Hits New 1-Year High – Still a Buy?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $11.90 and last traded at $11.83, with a volume of 847424 shares. The stock had previously closed at $10.85.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Friday, July 17th. Cantor Fitzgerald started coverage on Silence Therapeutics in a research report on Wednesday, June 24th. They set an “overweight” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Silence Therapeutics Trading Up 9.0%

The business’s 50-day moving average price is $8.13 and its 200-day moving average price is $6.70. The stock has a market cap of $558.85 million, a PE ratio of -7.44 and a beta of 1.38.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.14). The company had revenue of $0.42 million for the quarter, compared to analyst estimates of $1.25 million. Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 105.34%. As a group, analysts predict that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Silence Therapeutics

A number of hedge funds have recently bought and sold shares of SLN. GAMMA Investing LLC boosted its holdings 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. Boothbay Fund Management LLC grew 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 purchasing an additional 2,409 shares during the period. Two Sigma Investments LP boosted its stake in Silence Therapeutics by 6.6% during the third quarter. Two Sigma Investments LP now owns 63,247 shares of the company’s stock worth $328,000 after buying an additional 3,935 shares during the period. ADAR1 Capital Management LLC boosted its position in shares of Silence Therapeutics by 26.8% during the 4th quarter. ADAR1 Capital Management LLC now owns 23,643 shares of the company’s stock worth $144,000 after purchasing an additional 5,000 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Silence Therapeutics by 65.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company’s stock worth $83,000 after acquiring an additional 5,421 shares in the last quarter. Hedge funds and other 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.