Silence Therapeutics plc (NASDAQ:SLN) Sees Significant Decrease in Short Interest

Silence Therapeutics plc (NASDAQ:SLN - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 254,600 shares, a decrease of 27.4% from the August 15th total of 350,500 shares. Based on an average daily volume of 222,600 shares, the days-to-cover ratio is currently 1.1 days.

Silence Therapeutics Trading Up 0.6 %

Shares of Silence Therapeutics stock traded up $0.11 on Friday, reaching $18.69. 86,495 shares of the stock were exchanged, compared to its average volume of 208,354. The firm has a market capitalization of $559.39 million, a PE ratio of -16.11 and a beta of 1.29. Silence Therapeutics has a 1-year low of $6.15 and a 1-year high of $27.72. The business has a fifty day moving average price of $18.75 and a two-hundred day moving average price of $20.70.

Silence Therapeutics (NASDAQ:SLN - Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.10). The business had revenue of $0.76 million during the quarter, compared to analysts' expectations of $11.28 million. Silence Therapeutics had a negative net margin of 222.44% and a negative return on equity of 58.28%. Research analysts expect that Silence Therapeutics will post -1.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in Silence Therapeutics by 4,802.8% in the second quarter. SG Americas Securities LLC now owns 343,196 shares of the company's stock valued at $6,521,000 after buying an additional 336,196 shares in the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Silence Therapeutics by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company's stock worth $4,046,000 after acquiring an additional 40,063 shares during the period. Janus Henderson Group PLC acquired a new position in Silence Therapeutics during the first quarter worth $13,575,000. Nicholas Investment Partners LP acquired a new position in Silence Therapeutics during the second quarter worth $2,859,000. Finally, Legato Capital Management LLC purchased a new stake in Silence Therapeutics during the second quarter worth $376,000. Institutional investors and hedge funds own 98.73% of the company's stock.

Analysts Set New Price Targets

SLN has been the topic of a number of recent research reports. Chardan Capital reaffirmed a "buy" rating and issued a $55.00 target price on shares of Silence Therapeutics in a report on Friday, August 16th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 target price on shares of Silence Therapeutics in a report on Friday, August 30th. Jefferies Financial Group began coverage on Silence Therapeutics in a report on Tuesday, September 3rd. They set a "buy" rating and a $40.00 price target on the stock. Finally, Morgan Stanley upped their price objective on Silence Therapeutics from $45.00 to $49.00 and gave the company an "overweight" rating in a research note on Friday, June 28th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $57.20.

About Silence Therapeutics

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development novel molecules incorporating short interfering ribonucleic acid (siRNA) to inhibit the expression of specific target genes in hematology, cardiovascular, and rare diseases. The company's mRNAi GalNAc Oligonucleotide Discovery platform consists of precision engineered product candidates designed to target specific disease-associated genes in the liver.