Sionna Therapeutics, Inc. (NASDAQ:SION) Receives $36.00 Average PT from Brokerages

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION) have received a consensus rating of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $38.00.

SION has been the topic of several research analyst reports. Royal Bank Of Canada assumed coverage on shares of Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price target on the stock. Wall Street Zen upgraded Sionna Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Jones Trading began coverage on Sionna Therapeutics in a research report on Monday. They set a “buy” rating and a $46.00 price target for the company. Finally, Raymond James Financial began coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price objective for the company.

Insiders Place Their Bets

In other news, CEO Michael Cloonan sold 17,574 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $24.96, for a total value of $438,647.04. Following the transaction, the chief executive officer owned 547,343 shares of the company’s stock, valued at $13,661,681.28. This represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Tpg Gp A, Llc acquired 60,000 shares of the company’s stock in a transaction dated Friday, June 27th. The shares were bought at an average cost of $15.84 per share, with a total value of $950,400.00. Following the completion of the acquisition, the insider directly owned 6,744,962 shares in the company, valued at $106,840,198.08. The trade was a 0.90% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 58,000 shares of company stock valued at $1,466,671 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Sionna Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SION. BNP Paribas Financial Markets purchased a new position in shares of Sionna Therapeutics during the 2nd quarter valued at about $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Sionna Therapeutics in the second quarter worth approximately $45,000. Virtus Investment Advisers LLC bought a new position in Sionna Therapeutics during the second quarter valued at approximately $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Sionna Therapeutics during the second quarter worth approximately $117,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $118,000.

Sionna Therapeutics Trading Up 13.3%

Shares of SION opened at $24.50 on Wednesday. Sionna Therapeutics has a twelve month low of $7.26 and a twelve month high of $26.50. The business’s 50-day moving average price is $20.81 and its 200-day moving average price is $16.03.

Sionna Therapeutics (NASDAQ:SION) last posted its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.27.

About Sionna Therapeutics

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.