Silence Therapeutics (NASDAQ:SLN) Sees Large Volume Increase

Silence Therapeutics plc (NASDAQ:SLN) shares saw unusually-strong trading volume on Thursday . Approximately 661,788 shares were traded during trading, an increase of 211% from the previous session’s volume of 212,934 shares.The stock last traded at $17.33 and had previously closed at $16.26.

Analyst Ratings Changes

Several analysts have recently commented on SLN shares. Chardan Capital restated a “buy” rating and issued a $55.00 target price on shares of Silence Therapeutics in a research note on Friday. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a report on Thursday, June 27th. Finally, Morgan Stanley raised their price objective on shares of Silence Therapeutics from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, June 28th.

Silence Therapeutics Stock Down 6.4 %

The stock has a 50-day moving average of $19.20 and a 200 day moving average of $21.31. The company has a market capitalization of $469.57 million, a PE ratio of -13.53 and a beta of 1.30.

Silence Therapeutics (NASDAQ:SLN) last announced its earnings results on Thursday, May 16th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.18. The firm had revenue of $15.73 million during the quarter, compared to analyst estimates of $4.53 million. Silence Therapeutics had a negative return on equity of 79.90% and a negative net margin of 131.44%. Equities analysts forecast that Silence Therapeutics plc will post -1.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of Silence Therapeutics by 10.5% during the 1st quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock valued at $151,000 after buying an additional 667 shares during the last quarter. Quarry LP bought a new stake in shares of Silence Therapeutics during the 2nd quarter valued at $114,000. Marshall Wace LLP lifted its holdings in shares of Silence Therapeutics by 7.3% in the second quarter. Marshall Wace LLP now owns 149,397 shares of the company’s stock worth $2,839,000 after buying an additional 10,206 shares in the last quarter. Custom Index Systems LLC bought a new stake in Silence Therapeutics during the 2nd quarter worth approximately $282,000. Finally, Lombard Odier Asset Management USA Corp lifted its stake in Silence Therapeutics by 0.7% in the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company’s stock worth $45,714,000 after purchasing an additional 17,086 shares in the last quarter. 98.73% of the stock is owned by institutional investors.

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.