Silence Therapeutics (NASDAQ:SLN) Sees Large Volume Increase

Silence Therapeutics plc (NASDAQ:SLN) shares saw strong trading volume on Thursday . 661,788 shares changed hands during trading, an increase of 211% from the previous session’s volume of 212,934 shares.The stock last traded at $17.33 and had previously closed at $16.26.

Wall Street Analyst Weigh In

Several research firms have recently commented on SLN. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a report on Thursday, June 27th. Chardan Capital reiterated a “buy” rating and set a $55.00 target price on shares of Silence Therapeutics in a report on Friday. Finally, Morgan Stanley lifted their price objective on Silence Therapeutics from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th.

Silence Therapeutics Stock Performance

The stock has a fifty day moving average price of $19.20 and a 200-day moving average price of $21.31. The firm has a market cap of $469.57 million, a PE ratio of -13.53 and a beta of 1.30.

Silence Therapeutics (NASDAQ:SLN) last posted its earnings results on Thursday, May 16th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.18. Silence Therapeutics had a negative net margin of 131.44% and a negative return on equity of 79.90%. The business had revenue of $15.73 million for the quarter, compared to analyst estimates of $4.53 million. As a group, equities analysts predict that Silence Therapeutics plc will post -1.52 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 bought and sold shares of SLN. SG Americas Securities LLC increased its position in shares of Silence Therapeutics by 10.5% during the first quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock worth $151,000 after acquiring an additional 667 shares during the last quarter. Quarry LP purchased a new stake in Silence Therapeutics during the 2nd quarter worth approximately $114,000. Marshall Wace LLP raised its position in shares of Silence Therapeutics by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 149,397 shares of the company’s stock valued at $2,839,000 after purchasing an additional 10,206 shares in the last quarter. Custom Index Systems LLC purchased a new position in shares of Silence Therapeutics during the 2nd quarter valued at approximately $282,000. Finally, Lombard Odier Asset Management USA Corp grew its position in shares of Silence Therapeutics by 0.7% during the second quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company’s stock worth $45,714,000 after buying an additional 17,086 shares in the last quarter. Hedge funds and other institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development novel molecules incorporating short interfering ribonucleic acid (siRNA) to inhibit the expression of specific target genes in hematology, cardiovascular, and rare diseases. The company's mRNAi GalNAc Oligonucleotide Discovery platform consists of precision engineered product candidates designed to target specific disease-associated genes in the liver.