Sionna Therapeutics (NASDAQ:SION) Trading 8.9% Higher – Here’s What Happened

Sionna Therapeutics, Inc. (NASDAQ:SION)’s share price rose 8.9% during trading on Monday . The company traded as high as $40.83 and last traded at $40.29. Approximately 76,026 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 221,634 shares. The stock had previously closed at $37.00.

Analyst Upgrades and Downgrades

SION has been the subject of several analyst reports. Jones Trading initiated coverage on Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 price objective for the company. Royal Bank Of Canada began coverage on shares of Sionna Therapeutics in a research report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sionna Therapeutics in a research note on Thursday. Raymond James Financial restated a “strong-buy” rating on shares of Sionna Therapeutics in a research note on Wednesday, November 5th. Finally, Wall Street Zen cut Sionna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Sionna Therapeutics Stock Up 12.6%

The stock’s 50 day moving average price is $31.07 and its two-hundred day moving average price is $22.42. The stock has a market cap of $1.86 billion and a price-to-earnings ratio of -8.55.

Sionna Therapeutics (NASDAQ:SION) last posted its quarterly 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.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Siren L.L.C. purchased a new position in shares of Sionna Therapeutics in the 1st quarter valued at about $3,400,000. Zimmer Partners LP acquired a new stake in Sionna Therapeutics in the 1st quarter valued at $2,484,000. Goldman Sachs Group Inc. acquired a new position in Sionna Therapeutics during the first quarter worth $667,000. Alyeska Investment Group L.P. acquired a new stake in shares of Sionna Therapeutics in the first quarter valued at about $1,948,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Sionna Therapeutics in the 1st quarter valued at about $676,000.

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.