Silence Therapeutics (NASDAQ:SLN) Sets New 52-Week High - Here's Why

Key Points

• Silence Therapeutics (NASDAQ:SLN) hit a new 52-week high, trading as high as $11.19 intraday before ending near $11.18, on relatively light volume.
• Analysts remain generally optimistic: HC Wainwright reiterated a buy with a $75 price target, Cantor Fitzgerald started coverage with an overweight rating, and the consensus rating is Moderate Buy with an average target of $55.
• The company’s fundamentals remain challenged, as its latest earnings missed estimates on both EPS and revenue and analysts expect a loss of $0.83 per share for the current fiscal year.

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $11.19 and last traded at $11.1750, with a volume of 28903 shares trading hands. The stock had previously closed at $10.92.

Analysts Set New Price Targets

SLN has been the topic of several analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price target on shares of Silence Therapeutics in a report on Wednesday, June 17th. Cantor Fitzgerald began coverage on Silence Therapeutics in a 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 Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Silence Therapeutics Trading Down 1.3%

The company's 50-day moving average is $7.82 and its 200 day moving average is $6.56. The stock has a market capitalization of $509.06 million, a PE ratio of -6.79 and a beta of 1.38.

Silence Therapeutics (NASDAQ:SLN - Get Free Report) last released 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). The company had revenue of $0.42 million for the quarter, compared to analysts' expectations of $1.25 million. Silence Therapeutics had a negative return on equity of 105.34% and a negative net margin of 8,943.86%. Sell-side analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Silence Therapeutics

Several hedge funds have recently made changes to their positions in SLN. XTX Topco Ltd purchased a new position in Silence Therapeutics in the 4th quarter worth $71,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Silence Therapeutics by 65.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company's stock valued at $83,000 after purchasing an additional 5,421 shares during the period. Citadel Advisors LLC acquired a new position in shares of Silence Therapeutics in the third quarter valued at about $112,000. Massar Capital Management LP purchased a new position in shares of Silence Therapeutics in the second quarter worth about $115,000. Finally, GAMMA Investing LLC raised its stake in shares of Silence Therapeutics by 18.1% in the second quarter. GAMMA Investing LLC now owns 11,063 shares of the company's stock worth $121,000 after purchasing an additional 1,698 shares during the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.

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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