Wall Street Zen Downgrades Sionna Therapeutics (NASDAQ:SION) to Sell

Sionna Therapeutics (NASDAQ:SION) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued research reports about the company. Jones Trading began coverage on Sionna Therapeutics in a report on Monday, September 8th. They issued a “buy” rating and a $46.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sionna Therapeutics in a research report on Thursday. Raymond James Financial restated a “strong-buy” rating on shares of Sionna Therapeutics in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada assumed coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Sionna Therapeutics Price Performance

Sionna Therapeutics stock opened at $37.00 on Friday. Sionna Therapeutics has a 12 month low of $7.26 and a 12 month high of $43.19. The company has a fifty day moving average price of $31.07 and a two-hundred day moving average price of $22.42. The company has a market cap of $1.65 billion and a PE ratio of -7.60.

Sionna Therapeutics (NASDAQ:SION) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share (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 Bruce Booth sold 169,260 shares of the firm’s 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 transaction, the director owned 722,301 shares of the company’s stock, valued at $23,366,437.35. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Cloonan sold 99,800 shares of Sionna Therapeutics stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $36.26, for a total value of $3,618,748.00. Following the transaction, the chief executive officer directly owned 547,343 shares in the company, valued at approximately $19,846,657.18. The trade was a 15.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,280,028 shares of company stock valued at $43,449,735. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Sionna Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC bought a new stake in Sionna Therapeutics during the first quarter worth approximately $8,995,000. TD Asset Management Inc acquired a new position in shares of Sionna Therapeutics in the 1st quarter worth $579,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Sionna Therapeutics in the 1st quarter valued at $676,000. CenterBook Partners LP purchased a new position in Sionna Therapeutics in the 1st quarter worth about $1,195,000. Finally, Aberdeen Group plc purchased a new position in Sionna Therapeutics in the 1st quarter worth about $7,803,000.

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.