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Saturday, September 30, 2023

Sio Gene Therapies Inc. (SIOX)’s Stock is Jumping, Here is Why

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Sio Gene Therapies Inc. (SIOX) shares are trading at higher $2.67 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $6.12 and the low is $1.41. Over the last 52 weeks, SIOX is down -48.46% while the S&P 500 is up 18.49%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SIOX reported a profit of $1000.0. Sio Gene Therapies Inc. also saw revenues increase to $9.55 million. In addition, SIOX has free cash flow of -$25.45 million as of 09-2020. The company’s EBITDA came in at -$9.37 million which compares well with its peers.

SIOX Return on Equity (ROE) is -101.10%, and its Return on Assets is -68.70%. All told, it is clear that, SIOX needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SIOX has a short ratio of 1.02 and outstanding shares of 46.73M.

Company Outlook

SIOX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.6 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.57. Sio Gene Therapies Inc. SIOX also noted assets of $79.77 million at the end of the last quarter. Investors should also keep an eye on sector updates as SIOX has historically followed its peers on positive news.

All told, Sio Gene Therapies Inc. SIOX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SIOX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Sio Gene Therapies Inc. SIOX is now commanding a market cap of 120.10M and a float of 29.77M. SIOX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SIOX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SIOX, either long or short, and we have not been compensated for this article.

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