Silence Therapeutics (NASDAQ:SLN) Sees Large Volume Increase

Silence Therapeutics plc (NASDAQ:SLN) saw strong trading volume on Thursday . 98,925 shares traded hands during trading, a decline of 49% from the previous session’s volume of 195,111 shares.The stock last traded at $19.06 and had previously closed at $18.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Chardan Capital increased their price target on shares of Silence Therapeutics from $42.00 to $55.00 and gave the company a “buy” rating in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Silence Therapeutics in a report on Thursday. Finally, Morgan Stanley increased their price target on shares of Silence Therapeutics from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Friday.

Silence Therapeutics Stock Performance

The stock’s 50-day moving average is $21.15 and its two-hundred day moving average is $20.95.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Redmile Group LLC bought a new position in Silence Therapeutics in the first quarter worth approximately $43,798,000. Vivo Capital LLC raised its position in Silence Therapeutics by 116.7% in the first quarter. Vivo Capital LLC now owns 1,105,454 shares of the company’s stock worth $23,878,000 after acquiring an additional 595,250 shares during the period. Janus Henderson Group PLC bought a new position in Silence Therapeutics in the first quarter worth approximately $13,575,000. Lynx1 Capital Management LP raised its position in Silence Therapeutics by 123.4% in the first quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock worth $11,375,000 after acquiring an additional 290,855 shares during the period. Finally, Parkman Healthcare Partners LLC raised its position in Silence Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock worth $4,046,000 after acquiring an additional 40,063 shares during the period. 98.73% of the stock is currently owned by institutional investors.

Silence Therapeutics Company Profile

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.