Insider Selling: Sionna Therapeutics (NASDAQ:SION) Director Sells $1,898,154.42 in Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Ra Capital Management, L.P. sold 47,442 shares of Sionna Therapeutics stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $40.01, for a total transaction of $1,898,154.42. Following the completion of the transaction, the director directly owned 168,193 shares in the company, valued at $6,729,401.93. This represents a 22.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, November 18th, Ra Capital Management, L.P. sold 6,922 shares of Sionna Therapeutics stock. The shares were sold at an average price of $39.57, for a total transaction of $273,903.54.
• On Monday, November 17th, Ra Capital Management, L.P. sold 81,987 shares of Sionna Therapeutics stock. The stock was sold at an average price of $40.59, for a total transaction of $3,327,852.33.
• On Tuesday, October 28th, Ra Capital Management, L.P. sold 62,610 shares of Sionna Therapeutics stock. The shares were sold at an average price of $39.58, for a total value of $2,478,103.80.
• On Friday, October 24th, Ra Capital Management, L.P. sold 311,000 shares of Sionna Therapeutics stock. The shares were sold at an average price of $39.50, for a total value of $12,284,500.00.

Sionna Therapeutics Stock Up 12.1%

SION opened at $43.66 on Friday. The firm has a market cap of $1.95 billion and a PE ratio of -8.97. The business has a fifty day simple moving average of $32.75 and a 200-day simple moving average of $23.22. Sionna Therapeutics, Inc. has a fifty-two week low of $7.26 and a fifty-two week high of $43.93.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on SION shares. Wall Street Zen cut shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Sionna Therapeutics in a research note on Wednesday, November 5th. Jones Trading began coverage on shares of Sionna Therapeutics in a research note on Monday, September 8th. They set a “buy” rating and a $46.00 target price on the stock. Royal Bank Of Canada initiated coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 target price for the company. Finally, BTIG Research started coverage on Sionna Therapeutics in a report on Wednesday. They set a “buy” rating and a $50.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Institutional Investors Weigh In On Sionna Therapeutics

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

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.