Silence Therapeutics (NASDAQ:SLN) Trading 3.6% Higher

Silence Therapeutics plc (NASDAQ:SLN) shares were up 3.6% during trading on Thursday . The company traded as high as $19.07 and last traded at $19.07. Approximately 58,111 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 208,165 shares. The stock had previously closed at $18.40.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SLN shares. Chardan Capital restated a “buy” rating and issued a $55.00 price objective on shares of Silence Therapeutics in a research report on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 target price on shares of Silence Therapeutics in a research note on Friday, August 30th. Morgan Stanley upped 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. Finally, Jefferies Financial Group initiated coverage on shares of Silence Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $40.00 target price for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Silence Therapeutics currently has a consensus rating of “Buy” and an average target price of $57.20.

Silence Therapeutics Trading Up 4.7 %

The stock’s 50 day moving average price is $18.13 and its 200 day moving average price is $20.06. The company has a market capitalization of $576.75 million, a price-to-earnings ratio of -16.61 and a beta of 1.29.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.76 million for the quarter, compared to analyst estimates of $11.28 million. On average, research analysts expect that Silence Therapeutics plc will post -1.55 earnings per share for the current year.

Hedge Funds Weigh In On Silence Therapeutics

A number of large investors have recently modified their holdings of the business. Parkman Healthcare Partners LLC lifted its stake in Silence Therapeutics by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock valued at $4,046,000 after purchasing an additional 40,063 shares during the last quarter. SG Americas Securities LLC lifted its stake in Silence Therapeutics by 10.5% in the 1st quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock valued at $151,000 after purchasing an additional 667 shares during the last quarter. Redmile Group LLC acquired a new stake in Silence Therapeutics in the 1st quarter valued at about $43,798,000. Janus Henderson Group PLC acquired a new stake in Silence Therapeutics in the 1st quarter valued at about $13,575,000. Finally, Lynx1 Capital Management LP lifted its stake in Silence Therapeutics by 123.4% in the 1st quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock valued at $11,375,000 after purchasing an additional 290,855 shares during the last quarter. 98.73% of the stock is currently owned by institutional investors and hedge funds.

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.