Syncona (LON:SYNC) Shares Pass Below 50 Day Moving Average - Here's Why

Key Points

• Shares crossed below its 50-day moving average — the 50-day MA is GBX 97.94; Syncona traded as low as GBX 95.51 and last at GBX 96.10 on volume 1,403,190 shares.
• Analyst coverage remains positive — Peel Hunt reiterated a "buy" with a GBX 189 target, and MarketBeat shows a consensus "Buy" with an average target of GBX 189.
• Company fundamentals — market cap £584.47 million, a negative PE of -6.39 (loss-making) and a beta of 0.42, with a 200-day MA of GBX 97.48.

Syncona (LON:SYNC - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 97.94 and traded as low as GBX 95.51. Syncona shares last traded at GBX 96.10, with a volume of 1,403,190 shares.

Analysts Set New Price Targets

Separately, Peel Hunt reiterated a "buy" rating and set a GBX 189 target price on shares of Syncona in a research report on Thursday, November 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of GBX 189.

Syncona Stock Performance

The business's 50-day simple moving average is GBX 97.94 and its 200 day simple moving average is GBX 97.48. The firm has a market cap of £584.47 million, a PE ratio of -6.39 and a beta of 0.42.

Syncona Company Profile

Syncona's purpose is to invest to extend and enhance human life. We do this by creating, building and scaling companies to deliver transformational treatments to patients in areas of high unmet need. We aim to build and maintain a diversified portfolio of 20-25 globally leading life science businesses, across development stage, modality and therapeutic area, for the benefit of all our stakeholders. We focus on developing treatments that deliver patient impact by working in close partnership with world-class academic founders and experienced management teams.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.