10 Most Promising Gene Editing Stocks to Buy According to Hedge Funds

5. Silence Therapeutics plc (NASDAQ:SLN)

Number of Hedge Fund Holders: 27

Average Upside: 217.95%

Silence Therapeutics plc (NASDAQ:SLN) is a biotechnology company focused on developing innovative RNA-based therapeutics for hematology, cardiovascular diseases, and other rare and metabolic conditions. The company uses its proprietary mRNAi GOLD platform to address gene editing through a technique called gene silencing. This method utilizes the body’s natural ability to suppress gene expression to target and treat diseases. Silence’s pipeline includes two candidates currently in clinical trials and three additional candidates in the pre-clinical stage. In July, the company reported positive Phase 2 clinical trial results for its lead drug candidate, zerlasiran (SLN360), aimed at patients at high risk of atherosclerotic cardiovascular disease.

At the beginning of September, Jefferies initiated coverage on Silence Therapeutics plc (NASDAQ:SLN) with a Buy rating and a $40 price target, citing the strong potential of its lead siRNA candidate, which has demonstrated over 90% reduction in Lp(a), a key cardiovascular risk factor. The company’s second candidate, targeting Polycythemia Vera (PV), a blood disorder affecting roughly 100,000 people in the U.S., also showed promising results in Phase 1 trials. Continued progress in both the Lp(a)-lowering program and PV treatment is expected to serve as key growth drivers for the company in 2024.

At the end of Q2 2024, 27 elite hedge funds tracked by Insider Monkey held positions in Silence Therapeutics plc (NASDAQ:SLN), with total stakes exceeding $234 million.