Sionna Therapeutics, Inc. (NASDAQ:SION) Receives Average Rating of “Moderate Buy” from Brokerages

Sionna Therapeutics, Inc. (NASDAQ:SION) has received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.00.

A number of research firms have weighed in on SION. Wall Street Zen cut shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada started coverage on Sionna Therapeutics in a research note on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sionna Therapeutics in a research report on Thursday. Raymond James Financial reiterated a “strong-buy” rating on shares of Sionna Therapeutics in a research note on Wednesday, November 5th. Finally, Jones Trading initiated coverage on shares of Sionna Therapeutics in a research report on Monday, September 8th. They set a “buy” rating and a $46.00 price target for the company.

Insider Transactions at Sionna Therapeutics

In related news, Director Ra Capital Management, L.P. sold 62,610 shares of Sionna Therapeutics stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $39.58, for a total value of $2,478,103.80. Following the completion of the transaction, the director directly owned 209,391 shares in the company, valued at approximately $8,287,695.78. This trade represents a 23.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cloonan sold 99,800 shares of the business’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $36.26, for a total value of $3,618,748.00. Following the completion of the sale, the chief executive officer directly owned 547,343 shares of the company’s stock, valued at approximately $19,846,657.18. This represents a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,280,028 shares of company stock valued at $43,449,735. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Sionna Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Sionna Therapeutics during the 3rd quarter valued at approximately $30,000. BNP Paribas Financial Markets acquired a new stake in shares of Sionna Therapeutics during the second quarter worth $31,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Sionna Therapeutics during the second quarter worth $45,000. Virtus Investment Advisers LLC acquired a new position in shares of Sionna Therapeutics in the 2nd quarter valued at about $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Sionna Therapeutics in the 2nd quarter valued at about $117,000.

Sionna Therapeutics Stock Up 3.1%

Shares of NASDAQ:SION opened at $37.00 on Monday. The company has a 50 day moving average of $31.07 and a two-hundred day moving average of $22.42. Sionna Therapeutics has a 52-week low of $7.26 and a 52-week high of $43.19. The company has a market capitalization of $1.65 billion and a price-to-earnings ratio of -7.60.

Sionna Therapeutics (NASDAQ:SION) last announced its earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.06.

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.