In Wednesday’s session, Sio Gene Therapies Inc. (NASDAQ:SIOX) marked $0.30 per share, up from $0.30 in the previous session. While Sio Gene Therapies Inc. has overperformed by 1.17%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SIOX fell by -81.16%, with highs and lows ranging from $1.65 to $0.23, whereas the simple moving average fell by -27.32% in the last 200 days.
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On July 12, 2021, Chardan Capital Markets started tracking Sio Gene Therapies Inc. (NASDAQ: SIOX) recommending Buy. A report published by BTIG Research on June 15, 2021, Initiated its previous ‘Buy’ rating for SIOX. H.C. Wainwright also reiterated SIOX shares as ‘Buy’, quoting a target price of $8 on the company’s shares in a report dated June 09, 2021. H.C. Wainwright initiated its ‘Buy’ rating for SIOX, as published in its report on April 30, 2021.
Analysis of Sio Gene Therapies Inc. (SIOX)
Sio Gene Therapies Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -99.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and SIOX has an average volume of 230.46K. On a monthly basis, the volatility of the stock is set at 7.17%, whereas on a weekly basis, it is put at 6.08%, with a loss of -5.78% over the past seven days. Furthermore, long-term investors anticipate a median target price of $5.00, showing growth from the present price of $0.30, which can serve as yet another indication of whether SIOX is worth investing in or should be passed over.
How Do You Analyze Sio Gene Therapies Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 25.55%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 30.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SIOX shares?
The recent increase in stakes in SIOX appears to be a result of several institutional investors and hedge funds increasing their positions. Rubric Capital Management LP’s position in SIOX has increased by 16.45% in the first quarter. The company now owns 7,000,000 shares of the stock, with a value of $2.05 million, following the purchase of 988,995 additional shares during the last quarter. During the last quarter, the company dropped down 0 additional shares for a total stake of worth $1.73 million, bringing number of shares owned by the company to 5,914,000.
At the end of the first quarter, Newtyn Management LLC increased its SIOX holdings by 5.94% and now holds 1.5 million SIOX shares valued at $0.44 million with the added 84141.0 shares during the period. SIOX shares are owned by institutional investors to the tune of 30.30% at present.