Silence Therapeutics (NASDAQ:SLN) Stock Price Down 6.4% – Here’s What Happened

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) shares fell 6.4% during mid-day trading on Tuesday. The company traded as low as $9.07 and last traded at $9.0330. Approximately 497,046 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 607,693 shares. The stock had previously closed at $9.65.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SLN shares. Cantor Fitzgerald assumed coverage on Silence Therapeutics in a report on Wednesday, June 24th. They set an “overweight” rating on the stock. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of Silence Therapeutics in a research report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a research note on Friday, July 17th. Finally, Morgan Stanley upped their target price on Silence Therapeutics from $25.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Silence Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Silence Therapeutics Stock Performance

The company has a market cap of $540.69 million, a PE ratio of -7.02 and a beta of 1.45. The business’s 50-day moving average is $12.48 and its 200 day moving average is $9.56.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.26) earnings per share 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%. Equities research analysts anticipate that Silence Therapeutics PLC Sponsored ADR will post -0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLN. GAMMA Investing LLC increased its stake in shares of Silence Therapeutics by 18.1% in the second quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock worth $121,000 after buying an additional 1,698 shares during the period. AXQ Capital LP purchased a new stake in Silence Therapeutics during the 2nd quarter valued at $138,000. Bank of America Corp DE boosted its position in Silence Therapeutics by 903.8% during the 1st quarter. Bank of America Corp DE now owns 29,773 shares of the company’s stock valued at $157,000 after buying an additional 26,807 shares during the period. Squarepoint Ops LLC boosted its position 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. Finally, Seven Fleet Capital Management LP purchased a new stake in Silence Therapeutics during the 4th quarter valued at $897,000. Institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

Silence Therapeutics plc is a clinical-stage biotechnology company focused on developing medicines that use RNA interference (RNAi) to selectively reduce the production of disease-causing proteins. The company’s approach is designed to act at the genetic level by targeting specific messenger RNA molecules before they are translated into proteins.

Silence’s research is supported by its proprietary mRNAi GOLD platform, which is intended to enable the development and delivery of small interfering RNA (siRNA) medicines.