Sionna Therapeutics (NASDAQ:SION) CEO Michael Cloonan Sells 7,793 Shares

Sionna Therapeutics, Inc. (NASDAQ:SION) CEO Michael Cloonan sold 7,793 shares of Sionna Therapeutics stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $29.70, for a total transaction of $231,452.10. Following the transaction, the chief executive officer directly owned 547,343 shares in the company, valued at $16,256,087.10. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Michael Cloonan also recently made the following trade(s):

• On Friday, September 26th, Michael Cloonan sold 17,207 shares of Sionna Therapeutics stock. The stock was sold at an average price of $28.85, for a total transaction of $496,421.95.
• On Tuesday, August 26th, Michael Cloonan sold 17,574 shares of Sionna Therapeutics stock. The stock was sold at an average price of $24.96, for a total transaction of $438,647.04.
• On Wednesday, August 27th, Michael Cloonan sold 7,426 shares of Sionna Therapeutics stock. The shares were sold at an average price of $25.01, for a total transaction of $185,724.26.

Sionna Therapeutics Trading Down 3.2%

Shares of SION opened at $28.47 on Thursday. Sionna Therapeutics, Inc. has a 1-year low of $7.26 and a 1-year high of $30.60. The firm has a 50-day simple moving average of $22.64 and a two-hundred day simple moving average of $17.09.

Sionna Therapeutics (NASDAQ:SION) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.27.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SION. RA Capital Management L.P. acquired a new position in shares of Sionna Therapeutics in the first quarter valued at approximately $109,258,000. TPG GP A LLC acquired a new position in shares of Sionna Therapeutics in the first quarter valued at approximately $69,925,000. Atlas Venture Life Science Advisors LLC acquired a new position in shares of Sionna Therapeutics in the first quarter valued at approximately $38,639,000. Braidwell LP acquired a new position in Sionna Therapeutics during the 2nd quarter worth approximately $18,770,000. Finally, Jennison Associates LLC acquired a new position in Sionna Therapeutics during the 1st quarter worth approximately $8,995,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SION. Wall Street Zen upgraded shares of Sionna Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Jones Trading began coverage on shares of Sionna Therapeutics in a research report on Monday, September 8th. They set a “buy” rating and a $46.00 price target for the company. Raymond James Financial began coverage on shares of Sionna Therapeutics in a research report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price target for the company. Finally, Royal Bank Of Canada assumed coverage on shares of Sionna Therapeutics in a research report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sionna Therapeutics has an average rating of “Buy” and an average price target of $38.00.

About Sionna Therapeutics

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.