Silence Therapeutics (NASDAQ:SLN) Shares Down 9.3% – Should You Sell?

Silence Therapeutics plc (NASDAQ:SLN)’s share price was down 9.3% during trading on Tuesday . The stock traded as low as $6.72 and last traded at $6.72. Approximately 173,968 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 235,292 shares. The stock had previously closed at $7.41.

Analysts Set New Price Targets

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

Silence Therapeutics Trading Down 5.7 %

The stock has a market cap of $189.74 million, a price-to-earnings ratio of -4.04 and a beta of 1.08. The stock’s 50 day moving average is $9.52 and its two-hundred day moving average is $15.43.

Hedge Funds Weigh In On Silence Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SLN. Eventide Asset Management LLC purchased a new position in Silence Therapeutics during the 3rd quarter worth $11,635,000. First Turn Management LLC purchased a new position in Silence Therapeutics during the second quarter worth about $10,209,000. Millennium Management LLC lifted its position in Silence Therapeutics by 91.2% in the second quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock valued at $14,876,000 after purchasing an additional 373,523 shares during the period. Point72 Asset Management L.P. boosted its holdings in Silence Therapeutics by 219.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 467,800 shares of the company’s stock valued at $8,505,000 after purchasing an additional 321,300 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Silence Therapeutics by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,087,228 shares of the company’s stock valued at $19,798,000 after purchasing an additional 268,250 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.