Silence Therapeutics (NASDAQ:SLN) Trading Down 9.3% - Time to Sell?

Shares of Silence Therapeutics plc (NASDAQ:SLN - Get Free Report) dropped 9.3% during trading on Tuesday . The stock traded as low as $6.72 and last traded at $6.72. Approximately 173,968 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 235,292 shares. The stock had previously closed at $7.41.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLN. Chardan Capital reiterated a "buy" rating and issued a $55.00 target price on shares of Silence Therapeutics in a report on Tuesday, December 10th. HC Wainwright reiterated a "buy" rating and issued a $75.00 price objective on shares of Silence Therapeutics in a report on Monday, December 9th. Morgan Stanley restated an "overweight" rating and set a $49.00 target price on shares of Silence Therapeutics in a report on Tuesday, October 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Silence Therapeutics in a research note on Monday, December 2nd. Finally, William Blair reissued an "outperform" rating on shares of Silence Therapeutics in a research note on Tuesday, November 19th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $57.20.

Silence Therapeutics Stock Down 5.7 %

The company's fifty day moving average is $9.74 and its two-hundred day moving average is $15.50. The stock has a market cap of $189.74 million, a price-to-earnings ratio of -4.04 and a beta of 1.08.

Institutional Trading of Silence Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in Silence Therapeutics by 609.2% during the 4th quarter. GAMMA Investing LLC now owns 6,092 shares of the company's stock worth $42,000 after acquiring an additional 5,233 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Silence Therapeutics during the third quarter worth about $56,000. Quarry LP purchased a new stake in shares of Silence Therapeutics in the 2nd quarter valued at about $114,000. Verition Fund Management LLC acquired a new stake in shares of Silence Therapeutics in the 3rd quarter valued at about $207,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Silence Therapeutics in the 3rd quarter valued at about $318,000. 98.73% of the stock is currently owned by institutional investors and hedge funds.

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.