Silence Therapeutics (NASDAQ:SLN) Sees Strong Trading Volume

Shares of Silence Therapeutics plc (NASDAQ:SLN - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 67,306 shares traded hands during trading, a decline of 67% from the previous session's volume of 206,716 shares.The stock last traded at $18.93 and had previously closed at $18.23.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Silence Therapeutics in a report on Tuesday, September 3rd. They issued a "buy" rating and a $40.00 target price on the stock. Chardan Capital restated a "buy" rating and issued a $55.00 price target on shares of Silence Therapeutics in a research 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 research note on Friday, August 30th. Finally, Morgan Stanley boosted their target price on shares of Silence Therapeutics from $45.00 to $49.00 and gave the stock an "overweight" rating in a research note on Friday, June 28th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $57.20.

Silence Therapeutics Stock Performance

The stock has a 50 day moving average of $18.71 and a 200-day moving average of $20.56. The firm has a market capitalization of $545.62 million, a P/E ratio of -15.72 and a beta of 1.29.

Silence Therapeutics (NASDAQ:SLN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $0.76 million during the quarter, compared to the consensus estimate of $11.28 million. Silence Therapeutics had a negative return on equity of 58.28% and a negative net margin of 222.44%. As a group, sell-side analysts expect that Silence Therapeutics plc will post -1.55 EPS for the current year.

Institutional Investors Weigh In On Silence Therapeutics

Several large investors have recently bought and sold shares of SLN. Lombard Odier Asset Management USA Corp grew its stake in shares of Silence Therapeutics by 0.7% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company's stock valued at $45,714,000 after acquiring an additional 17,086 shares during the period. Redmile Group LLC bought a new position in shares of Silence Therapeutics during the 1st quarter valued at approximately $43,798,000. Millennium Management LLC grew its stake in shares of Silence Therapeutics by 91.2% during the 2nd quarter. Millennium Management LLC now owns 782,941 shares of the company's stock valued at $14,876,000 after acquiring an additional 373,523 shares during the period. Janus Henderson Group PLC bought a new position in shares of Silence Therapeutics during the 1st quarter valued at approximately $13,575,000. Finally, First Turn Management LLC bought a new position in shares of Silence Therapeutics during the 2nd quarter valued at approximately $10,209,000. 98.73% of the stock is currently owned by institutional investors.

Silence Therapeutics Company 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.