Silence Therapeutics plc (NASDAQ:SLN) Short Interest Down 26.1% in July

Silence Therapeutics plc (NASDAQ:SLN) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 560,700 shares, a decrease of 26.1% from the June 30th total of 759,200 shares. Based on an average trading volume of 157,700 shares, the days-to-cover ratio is presently 3.6 days.

Hedge Funds Weigh In On Silence Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in Silence Therapeutics by 10.5% during the first 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. Legato Capital Management LLC bought a new position in Silence Therapeutics during the second quarter worth about $376,000. Parkman Healthcare Partners LLC boosted its holdings in Silence Therapeutics by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock worth $4,046,000 after buying an additional 40,063 shares during the last quarter. Lynx1 Capital Management LP boosted its holdings in Silence Therapeutics by 123.4% during the first quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock worth $11,375,000 after buying an additional 290,855 shares during the last quarter. Finally, Vivo Capital LLC acquired a new stake in shares of Silence Therapeutics during the fourth quarter worth about $8,862,000. Institutional investors own 98.73% of the company’s stock.

Silence Therapeutics Trading Down 1.9 %

Silence Therapeutics stock traded down $0.39 during mid-day trading on Monday, hitting $20.60. The stock had a trading volume of 72,115 shares, compared to its average volume of 202,261. The stock has a 50-day simple moving average of $20.29 and a two-hundred day simple moving average of $21.44. The stock has a market capitalization of $616.56 million, a PE ratio of -17.76 and a beta of 1.31. Silence Therapeutics has a 12 month low of $4.88 and a 12 month high of $27.72.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly 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 business had revenue of $15.73 million for the quarter, compared to analysts’ expectations of $4.53 million. Silence Therapeutics had a negative return on equity of 79.90% and a negative net margin of 131.44%. Sell-side analysts expect that Silence Therapeutics will post -1.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research note on Thursday, June 27th. Chardan Capital increased their price objective on Silence Therapeutics from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Morgan Stanley increased their price objective on Silence Therapeutics from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th.

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.