Silence Therapeutics plc (NASDAQ:SLN) Sees Large Growth in Short Interest

Silence Therapeutics plc (NASDAQ:SLN) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,300,000 shares, a growth of 15.0% from the January 15th total of 1,130,000 shares. Based on an average daily volume of 565,200 shares, the days-to-cover ratio is currently 2.3 days.

Silence Therapeutics Trading Up 7.6 %

Shares of NASDAQ SLN traded up $0.34 during midday trading on Friday, reaching $4.84. 550,047 shares of the stock were exchanged, compared to its average volume of 311,173. The business has a 50-day simple moving average of $6.03 and a two-hundred day simple moving average of $12.68. Silence Therapeutics has a 12 month low of $4.06 and a 12 month high of $27.72.

Hedge Funds Weigh In On Silence Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new position in shares of Silence Therapeutics in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC boosted its stake in Silence Therapeutics by 609.2% in the 4th quarter. GAMMA Investing LLC now owns 6,092 shares of the company’s stock worth $42,000 after purchasing an additional 5,233 shares during the period. Barclays PLC boosted its stake in Silence Therapeutics by 83.8% in the 4th quarter. Barclays PLC now owns 6,126 shares of the company’s stock worth $42,000 after purchasing an additional 2,793 shares during the period. Values First Advisors Inc. acquired a new position in Silence Therapeutics in the 3rd quarter worth $56,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Silence Therapeutics in the 4th quarter worth $69,000. 98.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SLN shares. The Goldman Sachs Group began coverage on Silence Therapeutics in a research note on Tuesday, February 11th. They issued a “sell” rating and a $6.00 price objective on the stock. Chardan Capital reiterated a “buy” rating and issued a $55.00 target price on shares of Silence Therapeutics in a report on Tuesday, December 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Silence Therapeutics in a research note on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a report on Wednesday, January 29th. Finally, William Blair restated an “outperform” rating on shares of Silence Therapeutics in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.00.

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.