Silence Therapeutics (NASDAQ:SLN) Shares Down 9.3% – Here’s What Happened

Shares of Silence Therapeutics plc (NASDAQ:SLN) traded down 9.3% during trading on Tuesday . The stock traded as low as $6.72 and last traded at $6.72. 173,968 shares traded hands during trading, a decline of 26% from the average session volume of 235,292 shares. The stock had previously closed at $7.41.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley restated an “overweight” rating and issued a $49.00 target price on shares of Silence Therapeutics in a research report on Tuesday, October 8th. William Blair reissued an “outperform” rating on shares of Silence Therapeutics in a research report on Tuesday, November 19th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Silence Therapeutics in a research report on Monday, December 2nd. Chardan Capital reaffirmed a “buy” rating and set a $55.00 target price on shares of Silence Therapeutics in a research report on Tuesday, December 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research report on Monday, December 9th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Silence Therapeutics currently has an average rating of “Buy” and a consensus price target of $57.20.

Silence Therapeutics Stock Down 9.3 %

The company’s fifty day moving average price is $9.74 and its two-hundred day moving average price is $15.50. The company has a market cap of $201.12 million, a price-to-earnings ratio of -4.28 and a beta of 1.08.

Institutional Trading of Silence Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SLN. Values First Advisors Inc. bought a new position in Silence Therapeutics in the 3rd quarter valued at $56,000. Quarry LP acquired a new position in shares of Silence Therapeutics during the second quarter valued at $114,000. GAMMA Investing LLC boosted its holdings in Silence Therapeutics by 609.2% in the fourth quarter. GAMMA Investing LLC now owns 6,092 shares of the company’s stock valued at $42,000 after acquiring an additional 5,233 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Silence Therapeutics in the third quarter worth about $207,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Silence Therapeutics during the 3rd quarter worth about $318,000. 98.73% of the stock is currently owned by institutional investors and hedge funds.

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.