Sionna Therapeutics (NASDAQ:SION) Stock Rating Upgraded by BTIG Research

Sionna Therapeutics (NASDAQ:SION) was upgraded by research analysts at BTIG Research to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

SION has been the subject of several other research reports. Wall Street Zen downgraded shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Raymond James Financial reissued a “strong-buy” rating on shares of Sionna Therapeutics in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sionna Therapeutics in a research note on Thursday, November 13th. Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a research note on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 target price for the company. Finally, 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 for the company. Two equities research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Sionna Therapeutics Stock Performance

Shares of NASDAQ:SION opened at $38.41 on Tuesday. The business’s fifty day moving average price is $32.03 and its two-hundred day moving average price is $22.90. The stock has a market cap of $1.71 billion and a PE ratio of -7.89. Sionna Therapeutics has a one year low of $7.26 and a one year high of $43.19.

Sionna Therapeutics (NASDAQ:SION) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.06.

Insider Buying and Selling

In related news, CEO Michael Cloonan sold 99,800 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $19,846,657.18. The trade was a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce Booth sold 88,878 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $34.22, for a total transaction of $3,041,405.16. Following the transaction, the director directly owned 686,567 shares of the company’s stock, valued at $23,494,322.74. This trade represents a 11.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,416,379 shares of company stock valued at $48,949,646. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Sionna Therapeutics

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

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.