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

Silence Therapeutics plc (NASDAQ:SLN – Get Rating) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 7,500 shares, a decrease of 90.6% from the April 30th total of 79,700 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 25,900 shares, the days-to-cover ratio is currently 0.3 days.

SLN has been the subject of several recent analyst reports. Zacks Investment Research raised Silence Therapeutics from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research note on Wednesday. Chardan Capital began coverage on Silence Therapeutics in a research report on Thursday, March 31st. They issued a “buy” rating and a $33.00 price target on the stock. Finally, HC Wainwright decreased their price objective on Silence Therapeutics from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, March 22nd.

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in shares of Silence Therapeutics in the 4th quarter worth about $157,000. Morgan Stanley raised its position in shares of Silence Therapeutics by 405.9% in the 1st quarter. Morgan Stanley now owns 10,118 shares of the company’s stock worth $233,000 after acquiring an additional 8,118 shares in the last quarter. Bellevue Group AG bought a new position in shares of Silence Therapeutics in the 4th quarter worth about $1,092,000. Blair William & Co. IL raised its position in shares of Silence Therapeutics by 26.1% in the 4th quarter. Blair William & Co. IL now owns 56,026 shares of the company’s stock worth $1,338,000 after acquiring an additional 11,582 shares in the last quarter. Finally, Citigroup Inc. bought a new position in shares of Silence Therapeutics in the 4th quarter worth about $1,365,000. 6.54% of the stock is owned by hedge funds and other institutional investors.

Silence Therapeutics stock traded up $1.80 during mid-day trading on Wednesday, reaching $10.35. 6,349 shares of the company were exchanged, compared to its average volume of 22,381. The company has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $19.31. Silence Therapeutics has a 12 month low of $8.21 and a 12 month high of $35.00.

Silence Therapeutics (NASDAQ:SLN – Get Rating) last issued its earnings results on Thursday, March 17th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.20. The business had revenue of $4.60 million during the quarter, compared to analyst estimates of $2.74 million. Sell-side analysts expect that Silence Therapeutics will post -1.95 earnings per share for the current fiscal year.

Silence Therapeutics Company Profile (Get Rating)

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development of novel ribonucleic acid (RNA) therapeutics in hematology, cardiovascular, and other rare and metabolic indications. The company's platform includes mRNAi GalNAc Oligonucleotide Discovery platform designed to accurately target specific disease-associated genes in the liver.

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