Silence Therapeutics (NASDAQ:SLN) Hits New 12-Month High – Time to Buy?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) hit a new 52-week high on Monday . The stock traded as high as $10.72 and last traded at $10.6340, with a volume of 41141 shares traded. The stock had previously closed at $10.14.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLN. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a report on Wednesday, June 17th. Cantor Fitzgerald started coverage on shares of Silence Therapeutics in a research report on Wednesday, June 24th. They set an “overweight” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Tuesday, April 21st. Jefferies Financial Group raised shares of Silence Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, William Blair reissued an “outperform” rating on shares of Silence Therapeutics in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Silence Therapeutics Price Performance

The firm has a market capitalization of $486.76 million, a PE ratio of -6.47 and a beta of 1.48. The company has a 50-day moving average price of $7.07 and a 200-day moving average price of $6.18.

Silence Therapeutics (NASDAQ:SLN) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.14). The firm had revenue of $0.42 million for the quarter, compared to analysts’ expectations of $1.25 million. Silence Therapeutics had a negative return on equity of 105.34% and a negative net margin of 8,943.86%. On average, research analysts predict that Silence Therapeutics PLC Sponsored ADR will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nantahala Capital Management LLC increased its stake in Silence Therapeutics by 48.0% in the fourth quarter. Nantahala Capital Management LLC now owns 1,542,427 shares of the company’s stock valued at $9,378,000 after purchasing an additional 500,000 shares during the last quarter. Cantor Fitzgerald L. P. grew its holdings in Silence Therapeutics by 1.6% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 801,306 shares of the company’s stock valued at $4,159,000 after buying an additional 12,267 shares during the period. Millennium Management LLC grew its holdings in Silence Therapeutics by 121.0% in the 4th quarter. Millennium Management LLC now owns 659,592 shares of the company’s stock valued at $4,010,000 after buying an additional 361,080 shares during the period. UBS Group AG increased its stake in shares of Silence Therapeutics by 34.5% during the 3rd quarter. UBS Group AG now owns 307,363 shares of the company’s stock valued at $1,595,000 after acquiring an additional 78,854 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Silence Therapeutics by 11.8% during the 1st 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 during the last quarter. Hedge funds and other 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.