Silence Therapeutics (NASDAQ:SLN) Sees Large Volume Increase - Still a Buy?

Key Points

• Silence Therapeutics’ trading volume rose 7% to 379,244 shares, while the stock fell 7.8% to $11.12 from its prior close of $12.07.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a $55 price target, although Weiss Ratings maintains a sell rating.
• The company reported a larger-than-expected quarterly loss of $0.32 per share and revenue of $0.42 million, below the $1.25 million consensus estimate; institutional investors own 98.73% of its shares.

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN - Get Free Report) saw an uptick in trading volume on Tuesday . 379,244 shares traded hands during mid-day trading, an increase of 7% from the previous session's volume of 354,483 shares.The stock last traded at $11.1210 and had previously closed at $12.07.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLN shares. HC Wainwright restated a "buy" rating and set a $75.00 price target on shares of Silence Therapeutics in a research report on Wednesday, June 17th. Cantor Fitzgerald started coverage on Silence Therapeutics in a research report on Wednesday, June 24th. They set an "overweight" rating for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Silence Therapeutics in a research note on Friday, July 17th. One 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 an average rating of "Moderate Buy" and an average price target of $55.00.

Silence Therapeutics Stock Down 7.8%

The firm has a market capitalization of $525.49 million, a P/E ratio of -6.85 and a beta of 1.38. The firm's 50-day simple moving average is $8.44 and its 200-day simple moving average is $6.82.

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

Institutional Investors Weigh In On Silence Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Boothbay Fund Management LLC increased its position in shares of Silence Therapeutics by 1.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 252,421 shares of the company's stock valued at $1,464,000 after purchasing an additional 2,409 shares during the last quarter. Massar Capital Management LP purchased a new stake in Silence Therapeutics in the second quarter worth approximately $115,000. UBS Group AG grew its position in Silence Therapeutics by 34.5% during the third quarter. UBS Group AG now owns 307,363 shares of the company's stock valued at $1,595,000 after acquiring an additional 78,854 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Silence Therapeutics by 6.6% during the third quarter. Two Sigma Investments LP now owns 63,247 shares of the company's stock worth $328,000 after acquiring an additional 3,935 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Silence Therapeutics during the third quarter worth approximately $112,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.