Sionna Therapeutics, Inc. (NASDAQ:SION) Stock Has Average Price Target of $42.33 According to Analysts

Sionna Therapeutics, Inc. (NASDAQ:SION) has been assigned a consensus rating of “Hold” from the thirteen analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $42.33.

A number of equities analysts have commented on the stock. Royal Bank Of Canada raised shares of Sionna Therapeutics from an “underperform” rating to a “sector perform” rating and set a $5.00 price objective for the company in a report on Monday, August 10th. Wall Street Zen downgraded shares of Sionna Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Citizens Jmp downgraded shares of Sionna Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Guggenheim lowered shares of Sionna Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, August 10th. Finally, JonesTrading downgraded shares of Sionna Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th.

Sionna Therapeutics Stock Performance

Shares of NASDAQ:SION opened at $3.28 on Monday. Sionna Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $54.97. The firm has a fifty day moving average price of $5.21 and a 200 day moving average price of $29.21.

Sionna Therapeutics (NASDAQ:SION) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.02). Research analysts expect that Sionna Therapeutics will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Sionna Therapeutics

In other news, Director Ra Capital Management, L.P. sold 3,448,811 shares of Sionna Therapeutics stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $6.33, for a total transaction of $21,830,973.63. Following the transaction, the director directly owned 3,448,812 shares of the company’s stock, valued at $21,830,979.96. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sionna Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Sionna Therapeutics in the second quarter worth approximately $64,875,000. Jennison Associates LLC raised its position in Sionna Therapeutics by 30.1% during the first quarter. Jennison Associates LLC now owns 1,451,220 shares of the company’s stock worth $58,179,000 after acquiring an additional 335,942 shares during the period. Candriam S.C.A. acquired a new position in shares of Sionna Therapeutics during the 1st quarter worth approximately $9,494,000. Artia Global Partners LP purchased a new position in shares of Sionna Therapeutics during the 2nd quarter worth $5,267,000. Finally, Walleye Capital LLC acquired a new stake in shares of Sionna Therapeutics during the second quarter worth about $4,282,000.

Sionna Therapeutics Company Profile

Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disorder that affects the lungs and other organs. The company is working to address the underlying cause of CF by developing small-molecule therapies designed to improve the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein.

Sionna’s research centers on the nucleotide-binding domain 1 (NBD1) of CFTR, which plays an important role in the protein’s structure and activity.