Silence Therapeutics (NASDAQ:SLN) Reaches New 1-Year High - Still a Buy?

Key Points

• Silence Therapeutics shares reached a new 52-week high of $12.31 and last traded at $12.15, up from a previous close of $11.72. The stock’s 50-day and 200-day moving averages are $9.21 and $7.13, respectively.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $55.00; however, Weiss Ratings maintained a “sell” rating.
• The company reported weaker-than-expected quarterly results, including an EPS loss of $0.32 versus an expected loss of $0.18 and revenue of $0.42 million versus $1.25 million expected. Silence is a clinical-stage RNAi biotechnology company developing candidates including SLN360 and SLN124.

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $12.31 and last traded at $12.15, with a volume of 88108 shares changing hands. The stock had previously closed at $11.72.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Silence Therapeutics in a research note on Wednesday, June 24th. They set an "overweight" rating for the company. HC Wainwright restated a "buy" rating and set a $75.00 target price on shares of Silence Therapeutics in a report on Wednesday, June 17th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Silence Therapeutics in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Silence Therapeutics Stock Up 0.9%

The business's 50 day moving average price is $9.21 and its 200-day moving average price is $7.13. The company has a market cap of $558.66 million, a PE ratio of -7.45 and a beta of 1.39.

Silence Therapeutics (NASDAQ:SLN - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.14). Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 105.34%. The firm had revenue of $0.42 million during the quarter, compared to analysts' expectations of $1.25 million. Equities analysts expect that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Silence Therapeutics by 18.1% during the 2nd quarter. GAMMA Investing LLC now owns 11,063 shares of the company's stock valued at $121,000 after purchasing an additional 1,698 shares in the last quarter. Seven Fleet Capital Management LP increased 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 buying an additional 9,159 shares during the last quarter. Bank of America Corp DE raised its holdings in Silence Therapeutics by 903.8% in the first quarter. Bank of America Corp DE now owns 29,773 shares of the company's stock valued at $157,000 after acquiring an additional 26,807 shares in the last quarter. ADAR1 Capital Management LLC raised its holdings in 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. Finally, SG Americas Securities LLC boosted its stake in Silence Therapeutics by 11.8% during the 1st quarter. SG Americas Securities LLC now owns 286,698 shares of the company's stock valued at $1,511,000 after acquiring an additional 30,358 shares during the last quarter. Institutional investors and hedge funds own 98.73% of the company's stock.

Silence Therapeutics Company Profile

Silence Therapeutics plc is a clinical-stage biotechnology company focused on the discovery and development of ribonucleic acid interference (RNAi) therapeutics. Leveraging its proprietary EnCore lipid nanoparticle delivery platform, the company aims to silence disease-causing genes in the liver and other tissues. Silence's technology is designed to enhance targeted delivery of small interfering RNA (siRNA) molecules, with the goal of achieving durable therapeutic effects and improved safety profiles compared with traditional drug modalities.

The company's lead product candidates include SLN360, an siRNA therapeutic designed to reduce lipoprotein(a) levels for cardiovascular risk reduction, and SLN124, aimed at treating hereditary hemochromatosis and beta-thalassemia by modulating iron metabolism.

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