Silence Therapeutics (NASDAQ:SLN) Reaches New 52-Week High – Here’s Why

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price reached a new 52-week high on Friday. The stock traded as high as $19.86 and last traded at $19.8350, with a volume of 436,647 shares changing hands. The stock had previously closed at $19.80.

Analyst Ratings Changes

Several research analysts have commented on the stock. Chardan Capital lowered shares of Silence Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 21st. Jefferies Financial Group lowered shares of Silence Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a research note on Monday, October 19th. Morgan Stanley boosted their price target on shares of Silence Therapeutics from $25.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. William Blair lowered shares of Silence Therapeutics from an “outperform” rating to a “hold” rating in a report on Monday, October 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Silence Therapeutics has an average rating of “Hold” and an average price target of $24.00.

Silence Therapeutics Trading Up 0.2%

The stock has a market cap of $1.23 billion, a P/E ratio of -15.50 and a beta of 1.34. The stock’s fifty day moving average price is $14.56 and its 200 day moving average price is $9.68.

Silence Therapeutics (NASDAQ:SLN) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.13). 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 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 made changes to their positions in SLN. Mirae Asset Global Investments Co. Ltd. purchased a new position in Silence Therapeutics during the third quarter valued at $26,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Silence Therapeutics by 14.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,572 shares of the company’s stock valued at $93,000 after acquiring an additional 1,097 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Silence Therapeutics by 18.1% in the 2nd quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock worth $121,000 after purchasing an additional 1,698 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Silence Therapeutics in the 2nd quarter worth about $138,000. Finally, State Street Corp bought a new position in Silence Therapeutics in the 3rd quarter worth about $238,000. 98.73% of the stock is currently owned by hedge funds and other institutional investors.

Silence Therapeutics Company Profile

Silence Therapeutics is a biotechnology company developing medicines based on RNA interference (RNAi), a biological process that can reduce production of specific disease-related proteins. Its proprietary mRNAi GOLD platform is designed to create small interfering RNA (siRNA) medicines, including treatments that target genes expressed in the liver. The company’s research and development programs have included zerlasiran, which targets lipoprotein(a), a risk factor for cardiovascular disease, and divesiran, investigated for blood disorders.