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

Silence Therapeutics plc (NASDAQ:SLN) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 254,600 shares, a decrease of 27.4% from the August 15th total of 350,500 shares. Based on an average daily volume of 222,600 shares, the days-to-cover ratio is presently 1.1 days.

Silence Therapeutics Stock Performance

Shares of SLN traded up $0.11 during midday trading on Friday, hitting $18.69. The company had a trading volume of 86,495 shares, compared to its average volume of 163,951. The company’s 50-day simple moving average is $18.75 and its 200-day simple moving average is $20.66. The firm has a market capitalization of $559.39 million, a P/E ratio of -16.11 and a beta of 1.29. Silence Therapeutics has a 1 year low of $6.15 and a 1 year high of $27.72.

Silence Therapeutics (NASDAQ:SLN) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The company had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $11.28 million. Silence Therapeutics had a negative net margin of 222.44% and a negative return on equity of 58.28%. Equities analysts predict that Silence Therapeutics will post -1.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Chardan Capital restated a “buy” rating and set a $55.00 target price on shares of Silence Therapeutics in a report on Friday, August 16th. Jefferies Financial Group assumed coverage on Silence Therapeutics in a report on Tuesday, September 3rd. They set a “buy” rating and a $40.00 target price for the company. HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of Silence Therapeutics in a report on Friday, August 30th. Finally, Morgan Stanley raised their target price on Silence Therapeutics from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $57.20.

Hedge Funds Weigh In On Silence Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Redmile Group LLC acquired a new stake in shares of Silence Therapeutics during the 1st quarter worth about $43,798,000. Janus Henderson Group PLC acquired a new stake in shares of Silence Therapeutics during the 1st quarter worth about $13,575,000. First Turn Management LLC acquired a new stake in shares of Silence Therapeutics during the 2nd quarter worth about $10,209,000. Millennium Management LLC raised its position in shares of Silence Therapeutics by 91.2% during the 2nd quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock worth $14,876,000 after acquiring an additional 373,523 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Silence Therapeutics by 4,802.8% during the 2nd quarter. SG Americas Securities LLC now owns 343,196 shares of the company’s stock worth $6,521,000 after acquiring an additional 336,196 shares in the last quarter. Hedge funds and other institutional investors own 98.73% of the company’s stock.

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.