Sigilon Therapeutics (NASDAQ:SGTX) Now Covered by Analysts at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group began coverage on shares of Sigilon Therapeutics (NASDAQ:SGTX – Get Rating) in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $6.00 price target on the stock.

Sigilon Therapeutics Stock Up 14.7 %

Shares of Sigilon Therapeutics stock opened at $0.63 on Wednesday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.31. Sigilon Therapeutics has a 12 month low of $0.29 and a 12 month high of $2.09. The business has a fifty day simple moving average of $0.39 and a 200 day simple moving average of $0.55. The stock has a market cap of $20.44 million, a PE ratio of -0.37 and a beta of 0.14.

Sigilon Therapeutics (NASDAQ:SGTX – Get Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.16. Sigilon Therapeutics had a negative return on equity of 91.82% and a negative net margin of 444.44%. The firm had revenue of $4.25 million during the quarter, compared to analysts’ expectations of $2.45 million. Research analysts predict that Sigilon Therapeutics will post -1.6 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Sigilon Therapeutics by 26.7% in the first quarter. State Street Corp now owns 330,471 shares of the company’s stock valued at $486,000 after acquiring an additional 69,662 shares during the period. Millennium Management LLC acquired a new position in Sigilon Therapeutics in the second quarter valued at about $256,000. Vanguard Group Inc. lifted its holdings in shares of Sigilon Therapeutics by 22.3% in the third quarter. Vanguard Group Inc. now owns 300,912 shares of the company’s stock valued at $152,000 after purchasing an additional 54,770 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Sigilon Therapeutics by 131.8% in the first quarter. Renaissance Technologies LLC now owns 275,600 shares of the company’s stock valued at $405,000 after purchasing an additional 156,689 shares in the last quarter. 52.20% of the stock is owned by institutional investors and hedge funds.

About Sigilon Therapeutics

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Sigilon Therapeutics, Inc, a clinical stage biotechnology company, develops functional cures for patients with chronic diseases. Its lead product candidate is SIG-001, which is in Phase I/II clinical trial to prevent bleeding episodes in patients with moderate to severe Hemophilia A. The company is also developing SIG-005 to treat the non-neurological manifestations of mucopolysaccharidosis type 1; SIG-007 to provide continuous and prolonged release of functional enzyme at levels sufficient to produce clinical benefits and alleviate progression of the downstream aspects of Fabry disease; and SIG-002 to replace islet cells for the treatment of type 1 diabetes.