Nicholas Investment Partners LP Acquires New Position in Silence Therapeutics plc (NASDAQ:SLN)

Nicholas Investment Partners LP acquired a new position in shares of Silence Therapeutics plc (NASDAQ:SLN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 150,480 shares of the company's stock, valued at approximately $2,859,000. Nicholas Investment Partners LP owned approximately 0.50% of Silence Therapeutics as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SLN. SG Americas Securities LLC lifted its position in Silence Therapeutics by 10.5% in the first quarter. SG Americas Securities LLC now owns 7,000 shares of the company's stock valued at $151,000 after acquiring an additional 667 shares during the last quarter. Custom Index Systems LLC acquired a new stake in shares of Silence Therapeutics in the 2nd quarter valued at about $282,000. Legato Capital Management LLC purchased a new position in Silence Therapeutics during the 2nd quarter worth approximately $376,000. Parkman Healthcare Partners LLC grew its stake in Silence Therapeutics by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company's stock worth $4,046,000 after buying an additional 40,063 shares during the last quarter. Finally, Lynx1 Capital Management LP increased its position in Silence Therapeutics by 123.4% during the first quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company's stock worth $11,375,000 after buying an additional 290,855 shares during the period. Hedge funds and other institutional investors own 98.73% of the company's stock.

Analyst Ratings Changes

SLN has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Silence Therapeutics from $45.00 to $49.00 and gave the company an "overweight" rating in a report on Friday, June 28th. Chardan Capital reissued a "buy" rating and set a $55.00 price objective on shares of Silence Therapeutics in a research report on Friday, August 16th. Jefferies Financial Group initiated coverage on shares of Silence Therapeutics in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $40.00 price objective on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $75.00 target price on shares of Silence Therapeutics in a research note on Friday, August 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Silence Therapeutics has an average rating of "Buy" and an average target price of $57.20.

Silence Therapeutics Stock Up 0.1 %

NASDAQ:SLN traded up $0.02 during midday trading on Thursday, reaching $18.58. The stock had a trading volume of 30,792 shares, compared to its average volume of 209,047. The stock has a market cap of $556.10 million, a P/E ratio of -16.02 and a beta of 1.29. The firm has a fifty day simple moving average of $18.74 and a two-hundred day simple moving average of $20.77. Silence Therapeutics plc has a 12-month low of $6.15 and a 12-month high of $27.72.

Silence Therapeutics (NASDAQ:SLN - Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The firm 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%. On average, sell-side analysts anticipate that Silence Therapeutics plc will post -1.55 earnings per share for the current fiscal year.

Silence Therapeutics Profile

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.