Silence Therapeutics plc (NASDAQ:SLN) Short Interest Down 26.1% in July

Silence Therapeutics plc (NASDAQ:SLN) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totalling 560,700 shares, a decrease of 26.1% from the June 30th total of 759,200 shares. Based on an average trading volume of 157,700 shares, the short-interest ratio is presently 3.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Redmile Group LLC acquired a new stake in shares of Silence Therapeutics in the first quarter worth $43,798,000. Janus Henderson Group PLC acquired a new stake in shares of Silence Therapeutics in the first quarter worth $13,575,000. Vivo Capital LLC increased its stake in shares of Silence Therapeutics by 116.7% in the first quarter. Vivo Capital LLC now owns 1,105,454 shares of the company’s stock worth $23,878,000 after acquiring an additional 595,250 shares during the period. SG Americas Securities LLC increased its stake in shares of Silence Therapeutics by 4,802.8% in the second 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 during the period. Finally, Lynx1 Capital Management LP increased its stake in shares of Silence Therapeutics by 123.4% in the first quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock worth $11,375,000 after acquiring an additional 290,855 shares during the period. Institutional investors and hedge funds own 98.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SLN. Chardan Capital upped their price target on shares of Silence Therapeutics from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Morgan Stanley upped their price target on shares of Silence Therapeutics from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research report on Thursday, June 27th.

Silence Therapeutics Stock Performance

NASDAQ:SLN traded down $0.39 during midday trading on Monday, reaching $20.60. 72,115 shares of the stock traded hands, compared to its average volume of 202,261. Silence Therapeutics has a 12-month low of $4.88 and a 12-month high of $27.72. The business has a 50-day moving average of $20.29 and a two-hundred day moving average of $21.44. The stock has a market capitalization of $616.56 million, a PE ratio of -17.76 and a beta of 1.31.

Silence Therapeutics (NASDAQ:SLN) last posted its earnings results on Thursday, May 16th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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. Research analysts anticipate that Silence Therapeutics will post -1.52 earnings per share 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.