Silence Therapeutics (NASDAQ:SLN) Sees Large Volume Increase

Silence Therapeutics plc (NASDAQ:SLN) saw unusually-high trading volume on Tuesday . Approximately 67,306 shares were traded during mid-day trading, a decline of 67% from the previous session’s volume of 206,716 shares.The stock last traded at $18.93 and had previously closed at $18.23.

Analysts Set New Price Targets

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

Silence Therapeutics Stock Performance

The stock has a fifty day moving average price of $18.68 and a 200-day moving average price of $20.54. The firm has a market cap of $546.52 million, a PE ratio of -15.74 and a beta of 1.29.

Silence Therapeutics (NASDAQ:SLN) last issued its earnings results 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). Silence Therapeutics had a negative return on equity of 58.28% and a negative net margin of 222.44%. The company had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $11.28 million. As a group, equities analysts predict that Silence Therapeutics plc will post -1.55 earnings per share for the current fiscal year.

Institutional Trading of Silence Therapeutics

Large investors have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Silence Therapeutics in the second quarter worth $114,000. SG Americas Securities LLC raised its holdings in shares of Silence Therapeutics by 10.5% during the first quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock valued at $151,000 after buying an additional 667 shares during the last quarter. Custom Index Systems LLC acquired a new position in Silence Therapeutics during the 2nd quarter worth $282,000. Legato Capital Management LLC acquired a new stake in Silence Therapeutics in the second quarter worth about $376,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Silence Therapeutics by 1,686.6% in the second quarter. Point72 Asset Management L.P. now owns 146,500 shares of the company’s stock valued at $2,784,000 after acquiring an additional 138,300 shares in the last quarter. Institutional investors and hedge funds own 98.73% of the company’s stock.

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.