H.C. Wainwright Thinks Sio Gene Therapies’ Stock is Going to Recover

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Sio Gene Therapies (SIOXResearch Report), with a price target of $8.00. The company’s shares closed last Wednesday at $2.36, close to its 52-week low of $1.86.

According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 36.1% and a 57.7% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Catabasis Pharmaceuticals.

Sio Gene Therapies has an analyst consensus of Strong Buy, with a price target consensus of $7.50.

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Based on Sio Gene Therapies’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.52 million. In comparison, last year the company had a GAAP net loss of $14.04 million.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SIOX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Axovant Gene Therapies Ltd. is a clinical-stage biopharmaceutical company, which engages in the acquisition, development, and commercialization of gene therapies for neurological diseases. Its product pipeline focus on Parkinson’s Disease, GM1 gangliosidosis, and GM2 gangliosidosis such as Tay-Sachs disease and Sandhoff disease. The company was founded on October 31, 2014 and is headquartered in London, United Kingdom.