Silence Therapeutics (NASDAQ:SLN) Shares Up 10% - Here's What Happened

Key Points

• Silence Therapeutics shares rose about 10% on Wednesday, trading as high as $10.60 on volume that was well above average. The stock last closed at $9.75 before the move.
• Recent analyst activity was mixed but generally positive, with HC Wainwright reiterating a buy rating and Jefferies upgrading the stock to strong-buy. The consensus rating is Moderate Buy with a $55 price target.
• The company remains a clinical-stage biotech focused on RNAi therapeutics, but its latest quarterly results missed expectations, with a wider-than-expected loss and lower revenue than forecast. Institutional ownership is high, with hedge funds and other investors holding most of the shares.

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN - Get Free Report) shares were up 10% on Wednesday . The stock traded as high as $10.60 and last traded at $10.7280. 573,183 shares were traded during trading, an increase of 64% from the average session volume of 348,516 shares. The stock had previously closed at $9.75.

Wall Street Analyst Weigh In

SLN has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of Silence Therapeutics in a research report on Wednesday, June 17th. Jefferies Financial Group raised Silence Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 18th. Cantor Fitzgerald began coverage on Silence Therapeutics in a research report on Wednesday, June 24th. They set an "overweight" rating for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silence Therapeutics in a report on Tuesday, April 21st. One investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Silence Therapeutics Stock Up 10.1%

The stock has a market cap of $507.12 million, a PE ratio of -6.68 and a beta of 1.38. The firm has a fifty day moving average of $7.68 and a 200 day moving average of $6.50.

Silence Therapeutics (NASDAQ:SLN - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.14). The business had revenue of $0.42 million during the quarter, compared to analysts' expectations of $1.25 million. Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 105.34%. On average, equities research analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nantahala Capital Management LLC boosted its holdings in shares of Silence Therapeutics by 48.0% in the fourth quarter. Nantahala Capital Management LLC now owns 1,542,427 shares of the company's stock valued at $9,378,000 after acquiring an additional 500,000 shares during the period. Millennium Management LLC raised its position in Silence Therapeutics by 121.0% in the 4th quarter. Millennium Management LLC now owns 659,592 shares of the company's stock valued at $4,010,000 after purchasing an additional 361,080 shares during the last quarter. Ishara Investments LP purchased a new stake in Silence Therapeutics in the 4th quarter valued at $1,459,000. ADAR1 Capital Management LLC boosted its stake in Silence Therapeutics by 628.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company's stock worth $907,000 after purchasing an additional 148,514 shares during the period. Finally, Seven Fleet Capital Management LP purchased a new position in Silence Therapeutics during the 4th quarter worth $897,000. 98.73% of the stock is currently 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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