Sionna Therapeutics (NASDAQ:SION) Trading Up 11.4% – Here’s Why

Sionna Therapeutics, Inc. (NASDAQ:SION) shares rose 11.4% during trading on Wednesday . The stock traded as high as $43.90 and last traded at $43.44. Approximately 230,989 shares changed hands during mid-day trading, an increase of 2% from the average daily volume of 227,530 shares. The stock had previously closed at $39.01.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Jones Trading initiated coverage on Sionna Therapeutics in a research note on Monday, September 8th. They set a “buy” rating and a $46.00 target price for the company. Wall Street Zen cut shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sionna Therapeutics in a report on Monday. Royal Bank Of Canada reissued an “underperform” rating and set a $24.00 target price on shares of Sionna Therapeutics in a research note on Monday. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Sionna Therapeutics in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.33.

Sionna Therapeutics Stock Down 1.4%

The firm has a market capitalization of $1.80 billion and a price-to-earnings ratio of -8.27. The stock’s 50-day moving average price is $35.92 and its 200 day moving average price is $25.06.

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

Insider Activity at Sionna Therapeutics

In other Sionna Therapeutics news, Director Peter A. Thompson sold 1,600 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $44.49, for a total value of $71,184.00. Following the completion of the sale, the director directly owned 3,596,886 shares of the company’s stock, valued at $160,025,458.14. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Orbimed Advisors Llc sold 1,600 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $44.49, for a total transaction of $71,184.00. Following the transaction, the director directly owned 3,596,886 shares in the company, valued at approximately $160,025,458.14. The trade was a 0.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,604,841 shares of company stock valued at $58,312,100. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sionna Therapeutics

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in Sionna Therapeutics by 1,425.5% in the 3rd quarter. Millennium Management LLC now owns 214,085 shares of the company’s stock valued at $6,296,000 after purchasing an additional 200,051 shares during the last quarter. Jain Global LLC purchased a new stake in shares of Sionna Therapeutics during the 3rd quarter valued at approximately $250,000. Bank of America Corp DE lifted its holdings in Sionna Therapeutics by 8.8% in the third quarter. Bank of America Corp DE now owns 6,541 shares of the company’s stock valued at $192,000 after acquiring an additional 529 shares during the last quarter. Longaeva Partners L.P. purchased a new position in Sionna Therapeutics in the third quarter worth approximately $1,807,000. Finally, Squarepoint Ops LLC acquired a new stake in Sionna Therapeutics during the third quarter worth $299,000.

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.