Sionna Therapeutics (NASDAQ:SION) Coverage Initiated by Analysts at BTIG Research

Stock analysts at BTIG Research started coverage on shares of Sionna Therapeutics (NASDAQ:SION) in a report released on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $50.00 price target on the stock. BTIG Research’s price target points to a potential upside of 27.81% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on SION. Royal Bank Of Canada started coverage on 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. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Sionna Therapeutics in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sionna Therapeutics in a research report on Thursday, November 13th. Jones Trading assumed coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Wall Street Zen lowered Sionna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Sionna Therapeutics Trading Down 2.0%

Shares of SION opened at $39.12 on Wednesday. The firm has a 50-day moving average price of $31.73 and a 200 day moving average price of $22.79. The firm has a market capitalization of $1.75 billion and a P/E ratio of -8.03. Sionna Therapeutics has a 12-month low of $7.26 and a 12-month high of $43.19.

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

Insider Buying and Selling

In other news, Director Bruce Booth sold 169,260 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $32.35, for a total value of $5,475,561.00. Following the completion of the sale, the director directly owned 722,301 shares of the company’s stock, valued at approximately $23,366,437.35. This represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cloonan sold 99,800 shares of Sionna Therapeutics stock in a transaction 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 owned 547,343 shares in the company, valued at approximately $19,846,657.18. This trade represents a 15.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,280,028 shares of company stock worth $43,449,735 in the last quarter. 3.90% of the stock is owned by insiders.

Institutional Trading of Sionna Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. acquired a new stake in Sionna Therapeutics in the first quarter valued at about $109,258,000. TPG GP A LLC purchased a new position in shares of Sionna Therapeutics during the 1st quarter worth approximately $69,925,000. Atlas Venture Life Science Advisors LLC acquired a new stake in shares of Sionna Therapeutics in the 1st quarter valued at approximately $38,639,000. Braidwell LP purchased a new stake in shares of Sionna Therapeutics in the second quarter valued at approximately $18,770,000. Finally, Aberdeen Group plc acquired a new position in Sionna Therapeutics during the first quarter worth $7,803,000.

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.