Silence Therapeutics (NASDAQ:SLN) Shares Down 5.4% – Should You Sell?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price fell 5.4% during trading on Tuesday . The company traded as low as $12.43 and last traded at $12.36. 116,666 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 564,292 shares. The stock had previously closed at $13.06.

Analysts Set New Price Targets

A number of equities analysts recently commented on SLN shares. Morgan Stanley increased their price target on Silence Therapeutics from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a 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 reissued a “buy” rating and issued a $75.00 target price on shares of Silence Therapeutics in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Silence Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $53.50.

Silence Therapeutics Trading Up 0.3%

The firm’s 50-day moving average price is $12.51 and its 200-day moving average price is $8.92. The stock has a market capitalization of $752.62 million, a PE ratio of -9.77 and a beta of 1.45.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.12). Silence Therapeutics had a negative return on equity of 106.94% and a negative net margin of 8,943.86%. On average, equities research analysts predict that Silence Therapeutics PLC Sponsored ADR will post -1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silence Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC raised its holdings in Silence Therapeutics by 29.6% during the 2nd quarter. Squarepoint Ops LLC now owns 115,918 shares of the company’s stock valued at $1,273,000 after buying an additional 26,449 shares during the period. AXQ Capital LP purchased a new position in Silence Therapeutics during the second quarter worth $138,000. 5AM Venture Management LLC bought a new position in Silence Therapeutics during the second quarter valued at $5,228,676. GAMMA Investing LLC increased its position in Silence Therapeutics by 18.1% during the second quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock valued at $121,000 after acquiring an additional 1,698 shares during the last quarter. Finally, Seven Fleet Capital Management LP raised its stake in shares of Silence Therapeutics by 6.2% in the first quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company’s stock valued at $826,000 after acquiring an additional 9,159 shares during the period. Hedge funds and other institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

Silence Therapeutics plc is a biotechnology company focused on developing medicines that use small interfering RNA (siRNA) to selectively reduce the production of disease-related proteins. Its proprietary mRNAi GOLD platform is designed to identify and silence specific messenger RNA targets, with the aim of producing durable effects from infrequent dosing.

The company’s pipeline includes zerlasiran, formerly known as SLN360, an investigational therapy designed to reduce production of lipoprotein(a), a genetically determined risk factor associated with cardiovascular disease.