Sionna Therapeutics (NASDAQ:SION) Stock Price Expected to Rise, Wedbush Analyst Says

Sionna Therapeutics (NASDAQ:SION) had its price target increased by equities researchers at Wedbush from $5.00 to $6.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s price target would suggest a potential downside of 17.65% from the company’s current price.

A number of other research firms have also recently issued reports on SION. Lifesci Capital cut Sionna Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen lowered shares of Sionna Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Stifel Nicolaus reiterated a “hold” rating and set a $7.00 price target on shares of Sionna Therapeutics in a report on Monday, August 10th. Raymond James Financial cut shares of Sionna Therapeutics from a “strong-buy” rating to a “market perform” rating in a research note on Monday, August 10th. Finally, Guggenheim downgraded Sionna Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.33.

Sionna Therapeutics Price Performance

Sionna Therapeutics stock opened at $7.29 on Tuesday. The business has a 50 day moving average of $25.55 and a 200-day moving average of $34.38. The company has a market capitalization of $329.40 million, a P/E ratio of -3.43 and a beta of 0.89. Sionna Therapeutics has a 1 year low of $4.01 and a 1 year high of $54.97.

Sionna Therapeutics (NASDAQ:SION) last posted its earnings results on Thursday, August 6th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.02). Equities analysts anticipate that Sionna Therapeutics will post -2.55 EPS for the current year.

Insiders Place Their Bets

In other Sionna Therapeutics news, Director Peter A. Thompson sold 115,844 shares of Sionna Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $45.50, for a total value of $5,270,902.00. Following the transaction, the director directly owned 2,555,877 shares of the company’s stock, valued at $116,292,403.50. The trade was a 4.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Orbimed Advisors Llc sold 115,844 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $45.50, for a total transaction of $5,270,902.00. Following the sale, the director owned 2,555,877 shares of the company’s stock, valued at approximately $116,292,403.50. This represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 403,524 shares of company stock worth $18,250,367 in the last three months. Insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Sionna Therapeutics

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Sionna Therapeutics in the 2nd quarter worth about $64,875,000. Jennison Associates LLC lifted its holdings in shares of Sionna Therapeutics by 30.1% during the first quarter. Jennison Associates LLC now owns 1,451,220 shares of the company’s stock valued at $58,179,000 after purchasing an additional 335,942 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Sionna Therapeutics by 75,169.5% in the 2nd quarter. California State Teachers Retirement System now owns 653,339 shares of the company’s stock worth $28,740,000 after purchasing an additional 652,471 shares in the last quarter. Eventide Asset Management LLC bought a new position in Sionna Therapeutics during the 4th quarter valued at approximately $26,290,000. Finally, Candriam S.C.A. purchased a new position in shares of Sionna Therapeutics in the 1st quarter worth about $9,494,000.

Sionna Therapeutics Company Profile

Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disease that affects the lungs and other organs. The company is developing small-molecule therapies designed to address defects in the cystic fibrosis transmembrane conductance regulator (CFTR) protein, which is responsible for transporting salt and fluids across cell membranes.

Sionna’s research is centered on nucleotide-binding domain 1 (NBD1) correctors.