Sio Gene Therapies Inc. [SIOX] fell -72.22% so far this year. What now?

Sio Gene Therapies Inc. [NASDAQ: SIOX] gained 16.33% on the last trading session, reaching $0.36 price per share at the time. The company report on December 14, 2022 that Sio Gene Therapies Inc. Announces Board Approval of Plan of Complete Liquidation and Dissolution.


Will You Miss Out On This Growth Stock Boom?

A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

And this is just one of our 5 Best Growth Stocks To Own For 2023.

Sponsored


“After evaluating the Company’s strategic options, the Board of Directors unanimously concluded that it is in the best interests of the shareholders to dissolve and liquidate the Company,” stated David Nassif, Chief Executive Officer. “The Board of Directors and management, together with its external advisors, devoted substantial time and effort in identifying and pursuing opportunities to enhance shareholder value; however, that process did not yield a potential transaction which the Board viewed as reasonably likely to provide greater realizable value to its shareholders than the complete dissolution and liquidation of the Company.”.

Sio Gene Therapies Inc. represents 73.77 million in outstanding shares, while the company has a total market value of $28.07 million with the latest information. SIOX stock price has been found in the range of $0.308 to $0.3799.

If compared to the average trading volume of 307.75K shares, SIOX reached a trading volume of 3504167 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $5.00 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 1.00. 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 0.03 The Price to Book ratio for the last quarter was 0.51.

Trading performance analysis for SIOX stock

Sio Gene Therapies Inc. [SIOX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.45. With this latest performance, SIOX shares gained by 19.43% in over the last four-week period, additionally sinking by -0.47% over the last 6 months – not to mention a drop of -72.65% 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 68.15, with the RSI for the last a single of trading hit 73.48, and the three-weeks RSI is set at 63.76 for Sio Gene Therapies Inc. [SIOX]. The present Moving Average for the last 50 days of trading for this stock 0.3018, while it was recorded at 0.3169 for the last single week of trading, and 0.3866 for the last 200 days.

Sio Gene Therapies Inc. [SIOX]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -78.26, with Return on Assets sitting at -68.39.

Sio Gene Therapies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.50 and a Current Ratio set at 6.50.

An analysis of insider ownership at Sio Gene Therapies Inc. [SIOX]

There are presently around $8 million, or 30.10% of SIOX stock, in the hands of institutional investors. The top three institutional holders of SIOX stocks are: RUBRIC CAPITAL MANAGEMENT LP with ownership of 7,000,000, which is approximately 16.453% of the company’s market cap and around 25.55% of the total institutional ownership; SUVRETTA CAPITAL MANAGEMENT, LLC, holding 5,914,000 shares of the stock with an approximate value of $2.12 million in SIOX stocks shares; and VANGUARD GROUP INC, currently with $0.66 million in SIOX stock with ownership of nearly -12.288% of the company’s market capitalization.

Positions in Sio Gene Therapies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 12 institutional holders increased their position in Sio Gene Therapies Inc. [NASDAQ:SIOX] by around 1,183,586 shares. Additionally, 16 investors decreased positions by around 754,061 shares, while 17 investors held positions by with 19,185,242 shares. The mentioned changes placed institutional holdings at 21,122,889 shares, according to the latest SEC report filing. SIOX stock had 3 new institutional investments in for a total of 97,304 shares, while 5 institutional investors sold positions of 110,268 shares during the same period.

LEAVE A REPLY

Please enter your comment!
Please enter your name here