Sio Gene Therapies Inc. [SIOX] Is Currently -48.57 below its 200 Period Moving Avg: What Does This Mean?

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Sio Gene Therapies Inc. [NASDAQ: SIOX] plunged by -$0.29 during the normal trading session on Thursday and reaching a high of $0.3799 during the day while it closed the day at $0.31. The company report on April 27, 2022 that Sio Gene Therapies Provides Corporate Update.

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-Company Announces Termination of Licensing Agreement for GM1 and GM2 Gene Therapies with the University of Massachusetts-Company has engaged SVB Securities to advise it on a range of strategic alternatives to maximize stockholder value-Company had cash and cash equivalents of approximately $64 million at March 31, 2022; license termination and related headcount reduction lowers operating expenses significantly.

Sio Gene Therapies Inc. (NASDAQ: SIOX) today announced that it has provided the required notice to the University of Massachusetts to terminate its licensing agreement to develop and commercialize gene therapy product candidates, including AXO-AAV-GM1 and AXO-AAV-GM2, for the treatment of GM1 gangliosidosis and GM2 gangliosidosis (including Tay-Sachs disease and Sandhoff disease), respectively.

Sio Gene Therapies Inc. stock has also loss -45.99% of its value over the past 7 days. However, SIOX stock has declined by -70.47% in the 3 months of the year. Over the past six months meanwhile, it has lost -83.93% and lost -75.96% year-on date.

The market cap for SIOX stock reached $23.27 million, with 72.94 million shares outstanding and 54.78 million shares in the current float. Compared to the average trading volume of 468.57K shares, SIOX reached a trading volume of 5991598 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Sio Gene Therapies Inc. [SIOX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SIOX shares is $3.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SIOX stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Chardan Capital Markets have made an estimate for Sio Gene Therapies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 12, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on June 15, 2021, representing the official price target for Sio Gene Therapies Inc. stock. Previously, the target price had yet another raise to $8, while H.C. Wainwright analysts kept a Buy rating on SIOX stock.

The Average True Range (ATR) for Sio Gene Therapies Inc. is set at 0.08 The Price to Book ratio for the last quarter was 0.23.

SIOX stock trade performance evaluation

Sio Gene Therapies Inc. [SIOX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -45.99. With this latest performance, SIOX shares dropped by -55.67% in over the last four-week period, additionally sinking by -83.93% over the last 6 months – not to mention a drop of -88.51% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SIOX stock in for the last two-week period is set at 20.21, with the RSI for the last a single of trading hit 13.67, and the three-weeks RSI is set at 25.18 for Sio Gene Therapies Inc. [SIOX]. The present Moving Average for the last 50 days of trading for this stock 0.6322, while it was recorded at 0.5363 for the last single week of trading, and 1.4730 for the last 200 days.

Sio Gene Therapies Inc. [SIOX]: An insightful look at the core fundamentals

Return on Total Capital for SIOX is now -41.66, given the latest momentum, and Return on Invested Capital for the company is -34.88. Return on Equity for this stock declined to -35.07, with Return on Assets sitting at -28.34. When it comes to the capital structure of this company, Sio Gene Therapies Inc. [SIOX] has a Total Debt to Total Equity ratio set at 1.01. Additionally, SIOX Total Debt to Total Capital is recorded at 1.00, with Total Debt to Total Assets ending up at 0.92. Long-Term Debt to Equity for the company is recorded at 0.76, with the Long-Term Debt to Total Capital now at 0.75.

Reflecting on the efficiency of the workforce at the company, Sio Gene Therapies Inc. [SIOX] managed to generate an average of -$772,024 per employee.Sio Gene Therapies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.60 and a Current Ratio set at 10.60.

Sio Gene Therapies Inc. [SIOX]: Insider Ownership positions

There are presently around $6 million, or 27.20% of SIOX stock, in the hands of institutional investors. The top three institutional holders of SIOX stocks are: SUVRETTA CAPITAL MANAGEMENT, LLC with ownership of 5,914,000, which is approximately 7.743% of the company’s market cap and around 0.40% of the total institutional ownership; RUBRIC CAPITAL MANAGEMENT LP, holding 3,000,000 shares of the stock with an approximate value of $0.93 million in SIOX stocks shares; and VANGUARD GROUP INC, currently with $0.67 million in SIOX stock with ownership of nearly 4.71% of the company’s market capitalization.

Positions in Sio Gene Therapies Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 22 institutional holders increased their position in Sio Gene Therapies Inc. [NASDAQ:SIOX] by around 4,399,585 shares. Additionally, 28 investors decreased positions by around 2,483,402 shares, while 13 investors held positions by with 13,404,840 shares. The mentioned changes placed institutional holdings at 20,287,827 shares, according to the latest SEC report filing. SIOX stock had 7 new institutional investments in for a total of 2,168,575 shares, while 15 institutional investors sold positions of 1,534,174 shares during the same period.