Silence Therapeutics (NASDAQ:SLN) Sees Strong Trading Volume

Shares of Silence Therapeutics plc (NASDAQ:SLN) saw unusually-strong trading volume on Thursday . Approximately 601,663 shares changed hands during trading, an increase of 193% from the previous session’s volume of 205,095 shares.The stock last traded at $17.14 and had previously closed at $16.82.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SLN shares. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of Silence Therapeutics in a research report on Thursday, June 27th. Morgan Stanley increased their target price on shares of Silence Therapeutics from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Finally, Chardan Capital lifted their price target on shares of Silence Therapeutics from $42.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 28th.

Silence Therapeutics Price Performance

The firm has a market capitalization of $499.83 million, a P/E ratio of -14.50 and a beta of 1.30. The firm’s fifty day moving average price is $19.78 and its 200-day moving average price is $21.45.

Silence Therapeutics (NASDAQ:SLN) last announced its quarterly earnings data 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. The business had revenue of $15.73 million during the quarter, compared to analyst estimates of $4.53 million. Silence Therapeutics had a negative return on equity of 79.90% and a negative net margin of 131.44%. Analysts expect that Silence Therapeutics plc will post -1.52 earnings per share for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in Silence Therapeutics by 10.5% during the 1st quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock worth $151,000 after purchasing an additional 667 shares in the last quarter. Custom Index Systems LLC purchased a new position in shares of Silence Therapeutics during the second quarter valued at $282,000. Legato Capital Management LLC acquired a new position in Silence Therapeutics during the second quarter valued at $376,000. Parkman Healthcare Partners LLC lifted its stake in Silence Therapeutics by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock worth $4,046,000 after acquiring an additional 40,063 shares in the last quarter. Finally, Nicholas Investment Partners LP acquired a new stake in Silence Therapeutics during the 2nd quarter worth about $2,859,000. 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.