Silence Therapeutics (NASDAQ:SLN) Shares Gap Up on Analyst Upgrade

Silence Therapeutics plc (NASDAQ:SLN)’s stock price gapped up prior to trading on Friday after Chardan Capital raised their price target on the stock from $42.00 to $55.00. The stock had previously closed at $19.00, but opened at $20.00. Chardan Capital currently has a buy rating on the stock. Silence Therapeutics shares last traded at $19.56, with a volume of 4,998 shares trading hands.

Several other brokerages have also commented on SLN. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of Silence Therapeutics in a report on Thursday. Morgan Stanley restated an “overweight” rating and issued a $45.00 price objective on shares of Silence Therapeutics in a report on Monday, April 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Silence Therapeutics during the 4th quarter worth $110,000. Parkman Healthcare Partners LLC boosted its stake in Silence Therapeutics by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock worth $4,046,000 after purchasing an additional 40,063 shares during the period. Vivo Capital LLC acquired a new stake in Silence Therapeutics during the 4th quarter worth $8,862,000. Lynx1 Capital Management LP boosted its stake in Silence Therapeutics by 123.4% during the 1st quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock worth $11,375,000 after purchasing an additional 290,855 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Silence Therapeutics during the 1st quarter worth $13,575,000. 98.73% of the stock is owned by hedge funds and other institutional investors.

Silence Therapeutics Trading Up 2.9 %

The stock has a market cap of $585.43 million, a price-to-earnings ratio of -16.38 and a beta of 1.34. The stock’s 50 day moving average is $21.22 and its two-hundred day moving average is $20.92.

Silence Therapeutics (NASDAQ:SLN) last released its earnings results on Thursday, May 16th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.18. Silence Therapeutics had a negative net margin of 131.44% and a negative return on equity of 79.90%. The company had revenue of $15.73 million during the quarter, compared to analysts’ expectations of $4.53 million. On average, sell-side analysts predict that Silence Therapeutics plc will post -1.52 EPS for the current year.

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.