Silence Therapeutics (NASDAQ:SLN) Stock Price Down 5.6%

Shares of Silence Therapeutics plc (NASDAQ:SLN) were down 5.6% during trading on Tuesday . The company traded as low as $19.37 and last traded at $19.44. Approximately 26,270 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 201,034 shares. The stock had previously closed at $20.60.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SLN shares. Morgan Stanley lifted their price target on shares of Silence Therapeutics from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Chardan Capital lifted their price target on shares of Silence Therapeutics from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research note on Thursday, June 27th.

Silence Therapeutics Price Performance

The firm’s fifty day moving average price is $20.29 and its 200 day moving average price is $21.44.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings data on Thursday, May 16th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.18. The company had revenue of $15.73 million during the quarter, compared to analyst estimates of $4.53 million. Silence Therapeutics had a negative net margin of 131.44% and a negative return on equity of 79.90%. As a group, research analysts expect that Silence Therapeutics plc will post -1.52 EPS for the current fiscal year.

Institutional Trading of Silence Therapeutics

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Silence Therapeutics during the fourth quarter valued at about $110,000. Legato Capital Management LLC acquired a new position in shares of Silence Therapeutics during the second quarter valued at about $376,000. Parkman Healthcare Partners LLC increased its holdings in shares of Silence Therapeutics by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock valued at $4,046,000 after acquiring an additional 40,063 shares in the last quarter. Vivo Capital LLC acquired a new position in shares of Silence Therapeutics during the fourth quarter valued at about $8,862,000. Finally, Lynx1 Capital Management LP increased its holdings in shares of Silence Therapeutics by 123.4% during the first quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock valued at $11,375,000 after acquiring an additional 290,855 shares in the last quarter. 98.73% of the stock is owned by hedge funds and other 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.