Silence Therapeutics (NASDAQ:SLN) Sees Strong Trading Volume – What’s Next?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) saw unusually-high trading volume on Thursday. Approximately 733,544 shares traded hands during trading, an increase of 19% from the previous session’s volume of 617,632 shares. The stock last traded at $9.1570 and had previously closed at $8.98.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SLN shares. Cantor Fitzgerald assumed coverage on Silence Therapeutics in a research note on Wednesday, June 24th. They issued an “overweight” rating for the company. Morgan Stanley increased 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Silence Therapeutics in a research note on Thursday. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Silence Therapeutics Stock Down 7.2%

The stock has a market cap of $522.62 million, a price-to-earnings ratio of -6.78 and a beta of 1.45. The business’s fifty day moving average is $12.36 and its two-hundred day moving average is $9.59.

Silence Therapeutics (NASDAQ:SLN) last announced its 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%. As a group, sell-side analysts expect that Silence Therapeutics PLC Sponsored ADR will post -0.82 earnings per share for the current year.

Institutional Trading of Silence Therapeutics

A number of large investors have recently modified their holdings of the stock. ADAR1 Capital Management LLC raised its stake in shares of 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 in the last quarter. 5AM Venture Management LLC acquired a new position in Silence Therapeutics during the 2nd quarter worth $5,228,676. Seven Fleet Capital Management LP acquired a new position in Silence Therapeutics during the 4th quarter worth $897,000. Bank of America Corp DE increased its holdings 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 worth $157,000 after purchasing an additional 26,807 shares during the period. Finally, AXQ Capital LP purchased a new stake in Silence Therapeutics during the 2nd quarter worth about $138,000. Hedge funds and other institutional investors own 98.73% of the company’s stock.

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.