Sionna Therapeutics (NASDAQ:SION) Shares Gap Down – What’s Next?

Sionna Therapeutics, Inc. (NASDAQ:SION)’s share price gapped down prior to trading on Monday . The stock had previously closed at $16.38, but opened at $16.02. Sionna Therapeutics shares last traded at $15.00, with a volume of 5,755 shares.

Wall Street Analysts Forecast Growth

SION has been the topic of several research analyst reports. TD Cowen initiated coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a “buy” rating on the stock. Guggenheim initiated coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a “buy” rating and a $45.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Sionna Therapeutics Stock Down 3.2%

The stock has a 50-day simple moving average of $13.04.

Sionna Therapeutics (NASDAQ:SION) last issued its earnings results on Monday, May 12th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.17).

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc bought a new position in shares of Sionna Therapeutics during the first quarter valued at $579,000. Goldman Sachs Group Inc. bought a new position in shares of Sionna Therapeutics during the first quarter valued at $667,000. Charles Schwab Investment Management Inc. bought a new position in shares of Sionna Therapeutics during the first quarter valued at $676,000. Woodline Partners LP bought a new position in shares of Sionna Therapeutics during the first quarter valued at $837,000. Finally, CenterBook Partners LP bought a new position in shares of Sionna Therapeutics during the first quarter valued at $1,195,000.

Sionna Therapeutics Company Profile

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.