Silence Therapeutics (NASDAQ:SLN) Sees Strong Trading Volume

Silence Therapeutics plc (NASDAQ:SLN - Get Free Report) saw an uptick in trading volume on Wednesday . Approximately 116,964 shares changed hands during trading, a decline of 43% from the previous session's volume of 205,948 shares.The stock last traded at $18.00 and had previously closed at $18.24.

Analysts Set New Price Targets

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

Silence Therapeutics Trading Down 0.9 %

The stock has a 50 day simple moving average of $18.47 and a 200-day simple moving average of $20.30. The firm has a market cap of $540.84 million, a PE ratio of -15.67 and a beta of 1.29.

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

Institutional Investors Weigh In On Silence Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLN. Quarry LP purchased a new position in Silence Therapeutics during the 2nd quarter valued at $114,000. SG Americas Securities LLC grew its stake in Silence Therapeutics by 10.5% during the 1st quarter. SG Americas Securities LLC now owns 7,000 shares of the company's stock worth $151,000 after buying an additional 667 shares during the last quarter. Custom Index Systems LLC purchased a new position in shares of Silence Therapeutics in the 2nd quarter valued at approximately $282,000. Legato Capital Management LLC acquired a new stake in shares of Silence Therapeutics during the second quarter worth $376,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Silence Therapeutics by 1,686.6% in the second quarter. Point72 Asset Management L.P. now owns 146,500 shares of the company's stock valued at $2,784,000 after purchasing an additional 138,300 shares during the period. 98.73% of the stock is currently owned by hedge funds and other 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.