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

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Sionna Therapeutics in a report on Thursday, November 13th. Royal Bank Of Canada started coverage on shares of Sionna Therapeutics in a research note on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price objective for the company. Wall Street Zen downgraded shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Jones Trading started coverage on Sionna Therapeutics in a research note on Monday, September 8th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Sionna Therapeutics in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Sionna Therapeutics Price Performance

The company has a 50-day simple moving average of $31.73 and a 200-day simple moving average of $22.79. The firm has a market cap of $1.75 billion and a PE ratio of -8.03.

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

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. sold 62,610 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $39.58, for a total value of $2,478,103.80. Following the completion of the transaction, the director directly owned 209,391 shares of the company’s stock, valued at approximately $8,287,695.78. The trade was a 23.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Cloonan sold 99,800 shares of the business’s stock in a transaction dated Tuesday, October 21st. The stock was 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 owned 547,343 shares of the company’s stock, valued at $19,846,657.18. This represents a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,280,028 shares of company stock worth $43,449,735. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sionna Therapeutics

Several institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new position in Sionna Therapeutics in the first quarter worth $109,258,000. TPG GP A LLC acquired a new stake in shares of Sionna Therapeutics in the 1st quarter worth $69,925,000. Atlas Venture Life Science Advisors LLC purchased a new position in Sionna Therapeutics during the 1st quarter worth $38,639,000. Viking Global Investors LP grew its stake in Sionna Therapeutics by 8.2% during the 2nd quarter. Viking Global Investors LP now owns 3,195,181 shares of the company’s stock worth $55,436,000 after buying an additional 242,427 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Sionna Therapeutics by 2.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,221,188 shares of the company’s stock valued at $38,538,000 after buying an additional 51,589 shares in the last quarter.

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.