Sio Gene Therapies (SIOX) Receives a Buy from Chardan Capital

Chardan Capital analyst Keay Nakae reiterated a Buy rating on Sio Gene Therapies (SIOXResearch Report) today. The company’s shares closed last Tuesday at $2.58.

According to TipRanks.com, Nakae is a 5-star analyst with an average return of 26.6% and a 48.5% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Sonnet BioTherapeutics Holdings, Arrowhead Pharmaceuticals, and Lineage Cell Therapeutics.

Currently, the analyst consensus on Sio Gene Therapies is a Strong Buy with an average price target of $7.50, a 180.9% upside from current levels. In a report issued on April 30, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $8.00 price target.

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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.

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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.