Silence Therapeutics (NASDAQ:SLN) Stock Price Down 5.4% - Here's Why

Key Points

• Silence Therapeutics shares fell 5.4% to $12.36 in Tuesday trading, with volume down 79% from the stock’s average daily level.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $53.50, despite ratings ranging from “Strong Buy” to “Sell.”
• The company’s latest quarterly loss was worse than expected, reporting an adjusted loss of $0.26 per share versus the $0.14 consensus estimate; institutional investors own 98.73% of the stock.

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN - Get Free Report)'s stock price traded down 5.4% during trading on Tuesday . The stock traded as low as $12.43 and last traded at $12.36. Approximately 116,666 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 564,292 shares. The stock had previously closed at $13.06.

Wall Street Analyst Weigh In

SLN has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and issued a $75.00 price target on shares of Silence Therapeutics in a research report on Wednesday, June 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Silence Therapeutics in a research report on Friday, July 17th. Cantor Fitzgerald initiated coverage on Silence Therapeutics in a research report on Wednesday, June 24th. They set an "overweight" rating on the stock. Finally, Morgan Stanley raised their target price on shares of Silence Therapeutics from $25.00 to $32.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $53.50.

Silence Therapeutics Stock Down 4.2%

The firm has a market capitalization of $752.91 million, a price-to-earnings ratio of -9.77 and a beta of 1.45. The firm has a 50 day moving average of $12.41 and a two-hundred day moving average of $8.82.

Silence Therapeutics (NASDAQ:SLN - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.26) 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%. Sell-side analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Silence Therapeutics by 18.1% in the 2nd quarter. GAMMA Investing LLC now owns 11,063 shares of the company's stock valued at $121,000 after buying an additional 1,698 shares in the last quarter. AXQ Capital LP acquired a new stake in Silence Therapeutics in the 2nd quarter valued at $138,000. Bank of America Corp DE increased its position in shares of Silence Therapeutics by 903.8% during the first quarter. Bank of America Corp DE now owns 29,773 shares of the company's stock worth $157,000 after acquiring an additional 26,807 shares in the last quarter. Seven Fleet Capital Management LP raised its stake in shares of Silence Therapeutics by 6.2% in the first quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company's stock worth $826,000 after purchasing an additional 9,159 shares during the last quarter. Finally, ADAR1 Capital Management LLC raised its position in Silence Therapeutics by 628.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company's stock valued at $907,000 after buying an additional 148,514 shares during the last quarter. 98.73% of the stock is owned by institutional investors.

About Silence Therapeutics

Silence Therapeutics plc is a biotechnology company focused on developing medicines that use small interfering RNA (siRNA) to selectively reduce the production of disease-related proteins. Its proprietary mRNAi GOLD platform is designed to identify and silence specific messenger RNA targets, with the aim of producing durable effects from infrequent dosing.

The company's pipeline includes zerlasiran, formerly known as SLN360, an investigational therapy designed to reduce production of lipoprotein(a), a genetically determined risk factor associated with cardiovascular disease.

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