Silence Therapeutics (NASDAQ:SLN) Stock Price Down 3.7% – Here’s What Happened

Silence Therapeutics plc (NASDAQ:SLN) traded down 3.7% during mid-day trading on Friday . The company traded as low as $18.55 and last traded at $18.55. 31,609 shares changed hands during trading, a decline of 85% from the average session volume of 207,538 shares. The stock had previously closed at $19.27.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of Silence Therapeutics in a report on Friday, August 30th. Chardan Capital reaffirmed a “buy” rating and set a $55.00 price objective on shares of Silence Therapeutics in a research report on Friday, August 16th. Jefferies Financial Group began coverage on shares of Silence Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $40.00 target price for the company. Finally, Morgan Stanley boosted their target price on shares of Silence Therapeutics from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Silence Therapeutics has an average rating of “Buy” and a consensus target price of $57.20.

Silence Therapeutics Stock Down 2.9 %

The firm has a market cap of $560.25 million, a price-to-earnings ratio of -16.61 and a beta of 1.29. The business has a 50 day moving average of $18.13 and a 200 day moving average of $20.06.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The firm had revenue of $0.76 million during the quarter, compared to analyst estimates of $11.28 million. Silence Therapeutics had a negative net margin of 222.44% and a negative return on equity of 58.28%. Research analysts predict that Silence Therapeutics plc will post -1.55 earnings per share for the current year.

Institutional Investors Weigh In On Silence Therapeutics

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC increased its holdings in Silence Therapeutics by 10.5% during the 1st quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock worth $151,000 after purchasing an additional 667 shares during the last quarter. Quarry LP purchased a new stake in Silence Therapeutics during the 2nd quarter worth approximately $114,000. Marshall Wace LLP increased its holdings in Silence Therapeutics by 7.3% during the 2nd quarter. Marshall Wace LLP now owns 149,397 shares of the company’s stock worth $2,839,000 after purchasing an additional 10,206 shares during the last quarter. Custom Index Systems LLC acquired a new position in shares of Silence Therapeutics in the 2nd quarter worth approximately $282,000. Finally, Lombard Odier Asset Management USA Corp grew its position in shares of Silence Therapeutics by 0.7% in the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company’s stock worth $45,714,000 after acquiring an additional 17,086 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, 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.