Zacks: Brokerages Expect Sio Gene Therapies Inc. (NASDAQ:SIOX) to Announce -$0.24 Earnings Per Share

Analysts predict that Sio Gene Therapies Inc. (NASDAQ:SIOXGet Rating) will post earnings of ($0.24) per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Sio Gene Therapies’ earnings. Sio Gene Therapies posted earnings of ($0.19) per share during the same quarter last year, which would suggest a negative year over year growth rate of 26.3%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Sio Gene Therapies will report full-year earnings of ($1.04) per share for the current financial year. For the next financial year, analysts forecast that the company will report earnings of ($1.18) per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Sio Gene Therapies.

SIOX has been the subject of several analyst reports. SVB Leerink cut shares of Sio Gene Therapies from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $6.00 to $1.00 in a report on Tuesday, February 1st. HC Wainwright downgraded Sio Gene Therapies from a “buy” rating to a “sell” rating in a research note on Thursday, April 28th. Cantor Fitzgerald downgraded shares of Sio Gene Therapies from an “overweight” rating to a “neutral” rating and set a $0.80 price target for the company. in a report on Thursday, April 28th. Finally, Zacks Investment Research raised Sio Gene Therapies from a “sell” rating to a “hold” rating in a research note on Thursday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.43.

Hedge funds have recently added to or reduced their stakes in the business. Prosight Management LP grew its stake in Sio Gene Therapies by 92.6% in the 3rd quarter. Prosight Management LP now owns 493,208 shares of the company’s stock worth $1,070,000 after acquiring an additional 237,093 shares during the period. Marshall Wace LLP purchased a new stake in Sio Gene Therapies in the third quarter valued at approximately $103,000. State Street Corp grew its holdings in shares of Sio Gene Therapies by 42.9% during the 4th quarter. State Street Corp now owns 157,200 shares of the company’s stock worth $203,000 after purchasing an additional 47,200 shares during the period. Morgan Stanley grew its stake in Sio Gene Therapies by 136.5% during the third quarter. Morgan Stanley now owns 68,383 shares of the company’s stock worth $149,000 after buying an additional 39,471 shares during the period. Finally, Clearline Capital LP increased its position in shares of Sio Gene Therapies by 79.7% in the first quarter. Clearline Capital LP now owns 392,691 shares of the company’s stock worth $263,000 after acquiring an additional 174,185 shares in the last quarter.

NASDAQ:SIOX traded up $0.02 during midday trading on Friday, reaching $0.31. The stock had a trading volume of 1,249,397 shares, compared to its average volume of 604,563. The firm has a fifty day simple moving average of $0.49 and a two-hundred day simple moving average of $0.91. Sio Gene Therapies has a 12-month low of $0.23 and a 12-month high of $2.95. The stock has a market cap of $22.97 million and a P/E ratio of -0.37.

Sio Gene Therapies Company Profile (Get Rating)

Sio Gene Therapies, Inc, a clinical-stage company, focuses on developing gene therapies to radically transform the lives of patients with neurodegenerative diseases. The company develops AXO-Lenti-PD, in vivo lentiviral gene therapy, which is in Phase II clinical trials for the treatment of Parkinson's disease; AXO-AAV-GM1, an investigational gene therapy , which is in Phase I/II clinical trials for the treatment of GM1 gangliosidosis; and AXO-AAV-GM2, an investigational gene therapy, which is in Phase I/II clinical trials for the treatment of GM2 gangliosidosis.

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