Silence Therapeutics (NASDAQ:SLN) Stock Price Up 6.9% - Here's Why

Key Points

• Silence Therapeutics shares rose 6.9% on Wednesday, trading as high as $11.56 after closing at $10.85 the previous session. Midday volume was below average at about 188,459 shares.
• Analyst sentiment remains mixed but generally positive, with Cantor Fitzgerald initiating overweight coverage and HC Wainwright reiterating a buy rating and $75 price target. The stock currently has a consensus rating of Moderate Buy and an average target price of $55.00.
• The company’s latest earnings showed a wider-than-expected loss, with Q1 EPS of ($0.32) versus the expected ($0.18) and revenue of $0.42 million versus $1.25 million forecast. Despite this, institutional ownership remains very high at 98.73%.

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN - Get Free Report) shares were up 6.9% on Wednesday . The company traded as high as $11.56 and last traded at $11.60. Approximately 188,459 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 348,887 shares. The stock had previously closed at $10.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silence Therapeutics in a research note on Friday. Cantor Fitzgerald initiated coverage on shares of Silence Therapeutics in a research report on Wednesday, June 24th. They set an "overweight" rating for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Silence Therapeutics in a research note on Wednesday, June 17th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

Silence Therapeutics Trading Up 6.9%

The stock has a fifty day moving average of $8.04 and a 200-day moving average of $6.66. The firm has a market capitalization of $548.11 million, a price-to-earnings ratio of -7.29 and a beta of 1.38.

Silence Therapeutics (NASDAQ:SLN - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($0.32) EPS 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 company had revenue of $0.42 million for the quarter, compared to analysts' expectations of $1.25 million. As a group, equities research analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nantahala Capital Management LLC raised its holdings in shares of Silence Therapeutics by 48.0% during 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 boosted its stake in Silence Therapeutics by 121.0% in the 4th quarter. Millennium Management LLC now owns 659,592 shares of the company's stock worth $4,010,000 after purchasing an additional 361,080 shares during the period. UBS Group AG grew its position in Silence Therapeutics by 34.5% during the 3rd quarter. UBS Group AG now owns 307,363 shares of the company's stock worth $1,595,000 after purchasing an additional 78,854 shares in the last quarter. SG Americas Securities LLC grew its position in Silence Therapeutics by 11.8% during the 1st quarter. SG Americas Securities LLC now owns 286,698 shares of the company's stock worth $1,511,000 after purchasing an additional 30,358 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its stake in Silence Therapeutics by 10.8% during the 3rd quarter. Boothbay Fund Management LLC now owns 279,637 shares of the company's stock valued at $1,451,000 after purchasing an additional 27,216 shares during the period. 98.73% of the stock is currently owned by institutional investors and hedge funds.

About Silence Therapeutics

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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