Silence Therapeutics (NASDAQ:SLN) Shares Gap Up After Analyst Upgrade

Silence Therapeutics plc (NASDAQ:SLN)’s stock price gapped up prior to trading on Friday after Morgan Stanley raised their price target on the stock from $45.00 to $49.00. The stock had previously closed at $19.00, but opened at $20.00. Morgan Stanley currently has an overweight rating on the stock. Silence Therapeutics shares last traded at $19.56, with a volume of 4,998 shares trading hands.

Several other equities research analysts have also commented on the stock. Chardan Capital boosted their target price on shares of Silence Therapeutics from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a report on Thursday.

Institutional Investors Weigh In On Silence Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Silence Therapeutics during the 4th quarter valued at $110,000. Parkman Healthcare Partners LLC lifted its position in shares of Silence Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock valued at $4,046,000 after acquiring an additional 40,063 shares in the last quarter. Vivo Capital LLC acquired a new stake in shares of Silence Therapeutics during the fourth quarter valued at $8,862,000. Lynx1 Capital Management LP increased its position in Silence Therapeutics by 123.4% during the 1st quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock worth $11,375,000 after purchasing an additional 290,855 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Silence Therapeutics in the 1st quarter valued at about $13,575,000. 98.73% of the stock is currently owned by hedge funds and other institutional investors.

Silence Therapeutics Stock Performance

The stock has a market cap of $568.63 million, a price-to-earnings ratio of -16.38 and a beta of 1.34. The firm’s 50 day moving average is $21.15 and its two-hundred day moving average is $20.95.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly earnings data on Thursday, May 16th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.18. Silence Therapeutics had a negative net margin of 131.44% and a negative return on equity of 79.90%. The business had revenue of $15.73 million during the quarter, compared to analyst estimates of $4.53 million. As a group, equities analysts expect that Silence Therapeutics plc will post -1.52 EPS for the current fiscal year.

Silence Therapeutics Company Profile

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development novel molecules incorporating short interfering ribonucleic acid (siRNA) to inhibit the expression of specific target genes in hematology, cardiovascular, and rare diseases. The company's mRNAi GalNAc Oligonucleotide Discovery platform consists of precision engineered product candidates designed to target specific disease-associated genes in the liver.