Silence Therapeutics (NASDAQ:SLN) Hits New 12-Month High – Here’s Why

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) reached a new 52-week high on Monday. The stock traded as high as $19.60 and last traded at $19.5850, with a volume of 15,992,139 shares traded. The stock had previously closed at $8.68.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a report on Thursday. Cantor Fitzgerald started coverage on Silence Therapeutics in a research note on Wednesday, June 24th. They issued an “overweight” rating for the company. Finally, Morgan Stanley boosted their target price on Silence Therapeutics from $25.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. One research 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.50.

Silence Therapeutics Stock Performance

The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -15.30 and a beta of 1.45. The business’s 50-day simple moving average is $12.36 and its 200-day simple moving average is $9.62.

Silence Therapeutics (NASDAQ:SLN) last issued its earnings results on Monday, August 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.12). Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 106.94%. On average, analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Several large investors have recently bought and sold shares of the business. ADAR1 Capital Management LLC boosted its stake in Silence Therapeutics by 628.2% in the first quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company’s stock valued at $907,000 after acquiring an additional 148,514 shares during the last quarter. 5AM Venture Management LLC bought a new stake in shares of Silence Therapeutics during the 2nd quarter valued at $5,228,676. Squarepoint Ops LLC raised its position in shares of 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 acquiring an additional 26,449 shares during the last quarter. Bank of America Corp DE raised its position in shares of 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 acquiring an additional 26,807 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in shares of Silence Therapeutics in the 2nd quarter valued at $138,000. 98.73% of the stock is currently owned by institutional investors and hedge funds.

Silence Therapeutics Company Profile

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.