Sionna Therapeutics (NASDAQ:SION) Trading Down 3.9% – What’s Next?

by · The Markets Daily

Sionna Therapeutics, Inc. (NASDAQ:SION – Get Free Report) dropped 3.9% during mid-day trading on Friday . The company traded as low as $41.94 and last traded at $42.09. Approximately 25,132 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 223,610 shares. The stock had previously closed at $43.79.

Wall Street Analyst Weigh In

Several research firms have commented on SION. Jones Trading assumed coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 price objective for the company. Wall Street Zen cut Sionna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Royal Bank Of Canada started coverage on Sionna Therapeutics in a research note on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price objective on the stock. BTIG Research initiated coverage on Sionna Therapeutics in a research report on Wednesday, November 19th. They set a “buy” rating and a $50.00 target price for the company. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Sionna Therapeutics in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

View Our Latest Research Report on Sionna Therapeutics

Sionna Therapeutics Price Performance

The firm has a market capitalization of $1.94 billion and a PE ratio of -8.95. The business has a 50-day simple moving average of $34.86 and a 200-day simple moving average of $24.39.

Sionna Therapeutics (NASDAQ:SION – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.06.

Insider Buying and Selling at Sionna Therapeutics

In related news, Director Ra Capital Management, L.P. sold 311,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $39.50, for a total transaction of $12,284,500.00. Following the transaction, the director directly owned 219,867 shares in the company, valued at approximately $8,684,746.50. This represents a 58.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce Booth sold 169,260 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $32.35, for a total transaction of $5,475,561.00. Following the completion of the sale, the director directly owned 722,301 shares in the company, valued at $23,366,437.35. This trade represents a 18.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,613,677 shares of company stock valued at $58,533,707. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in Sionna Therapeutics by 8.8% in the third quarter. Bank of America Corp DE now owns 6,541 shares of the company’s stock worth $192,000 after purchasing an additional 529 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Sionna Therapeutics by 35.2% in the third quarter. BNP Paribas Financial Markets now owns 2,380 shares of the company’s stock worth $70,000 after purchasing an additional 619 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Sionna Therapeutics in the 3rd quarter worth about $30,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Sionna Therapeutics during the 2nd quarter valued at about $45,000. Finally, The Manufacturers Life Insurance Company boosted its position in Sionna Therapeutics by 13.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company’s stock valued at $660,000 after buying an additional 4,489 shares during the period.

About Sionna Therapeutics

(Get Free Report)

We are a clinical-stage biopharmaceutical company on a mission to revolutionize the current treatment paradigm for cystic fibrosis (“CF”) patients by developing novel medicines that normalize the function of the cystic fibrosis transmembrane conductance regulator (“CFTR”) protein to deliver clinically meaningful benefit to CF patients.

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