Silence Therapeutics (NASDAQ:SLN) Reaches New 1-Year High – Still a Buy?

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $12.31 and last traded at $12.15, with a volume of 88108 shares changing hands. The stock had previously closed at $11.72.

Analyst Ratings Changes

SLN has been the topic of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silence Therapeutics in a research note on Friday, July 17th. Cantor Fitzgerald initiated coverage on Silence Therapeutics in a report on Wednesday, June 24th. They issued an “overweight” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Silence Therapeutics Trading Up 0.9%

The stock has a market capitalization of $558.66 million, a price-to-earnings ratio of -7.45 and a beta of 1.39. The firm has a 50-day moving average of $9.21 and a 200 day moving average of $7.13.

Silence Therapeutics (NASDAQ:SLN) last announced its earnings results on Friday, May 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.14). Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 105.34%. The business had revenue of $0.42 million for the quarter, compared to the consensus estimate of $1.25 million. Equities research analysts predict that Silence Therapeutics PLC Sponsored ADR will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Silence Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Silence Therapeutics by 18.1% during the 2nd quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock valued at $121,000 after buying an additional 1,698 shares during the period. Seven Fleet Capital Management LP raised its position in shares of Silence Therapeutics by 6.2% during the 1st quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company’s stock worth $826,000 after buying an additional 9,159 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Silence Therapeutics by 903.8% in the 1st quarter. Bank of America Corp DE now owns 29,773 shares of the company’s stock worth $157,000 after acquiring an additional 26,807 shares during the period. ADAR1 Capital Management LLC lifted its stake in shares of Silence Therapeutics by 628.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company’s stock worth $907,000 after acquiring an additional 148,514 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Silence Therapeutics by 11.8% in the first quarter. SG Americas Securities LLC now owns 286,698 shares of the company’s stock valued at $1,511,000 after acquiring an additional 30,358 shares in the last quarter. Institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

Silence Therapeutics plc is a clinical-stage biotechnology company focused on the discovery and development of ribonucleic acid interference (RNAi) therapeutics. Leveraging its proprietary EnCore lipid nanoparticle delivery platform, the company aims to silence disease-causing genes in the liver and other tissues. Silence’s technology is designed to enhance targeted delivery of small interfering RNA (siRNA) molecules, with the goal of achieving durable therapeutic effects and improved safety profiles compared with traditional drug modalities.

The company’s lead product candidates include SLN360, an siRNA therapeutic designed to reduce lipoprotein(a) levels for cardiovascular risk reduction, and SLN124, aimed at treating hereditary hemochromatosis and beta-thalassemia by modulating iron metabolism.