Short Interest in Silence Therapeutics plc (NASDAQ:SLN) Increases By 100.6%

Silence Therapeutics plc (NASDAQ:SLN) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 92,700 shares, a growth of 100.6% from the February 29th total of 46,200 shares. Based on an average daily volume of 241,500 shares, the short-interest ratio is presently 0.4 days.

Silence Therapeutics Stock Performance

SLN traded down $0.22 on Thursday, reaching $21.60. The company had a trading volume of 116,304 shares, compared to its average volume of 259,416. The stock has a 50-day moving average price of $22.58 and a 200-day moving average price of $15.72. The stock has a market capitalization of $646.44 million, a PE ratio of -14.79 and a beta of 1.45. Silence Therapeutics has a 1 year low of $4.55 and a 1 year high of $27.72. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SLN. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of Silence Therapeutics in a research report on Friday, March 15th. BMO Capital Markets initiated coverage on Silence Therapeutics in a research note on Wednesday, January 31st. They set an “outperform” rating and a $67.00 target price for the company. Chardan Capital lifted their price objective on Silence Therapeutics from $26.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, Morgan Stanley raised their price target on Silence Therapeutics from $29.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th.

Institutional Investors Weigh In On Silence Therapeutics

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of Silence Therapeutics by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 965,815 shares of the company’s stock worth $18,350,000 after buying an additional 205,815 shares during the period. Citadel Advisors LLC acquired a new stake in Silence Therapeutics during the 2nd quarter worth approximately $136,000. UBS Group AG grew its stake in shares of Silence Therapeutics by 4.8% in the 4th quarter. UBS Group AG now owns 69,006 shares of the company’s stock valued at $1,052,000 after purchasing an additional 3,191 shares during the last quarter. Morgan Stanley increased its holdings in shares of Silence Therapeutics by 36.0% in the fourth quarter. Morgan Stanley now owns 210,973 shares of the company’s stock valued at $3,217,000 after purchasing an additional 55,814 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Silence Therapeutics by 19.8% during the fourth quarter. Millennium Management LLC now owns 17,436 shares of the company’s stock worth $266,000 after purchasing an additional 2,879 shares during the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.

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.