Sionna Therapeutics (NASDAQ:SION) Director Sells $4,212,726.82 in Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Orbimed Advisors Llc sold 94,583 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $44.54, for a total value of $4,212,726.82. Following the sale, the director directly owned 3,610,376 shares in the company, valued at $160,806,147.04. The trade was a 2.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Orbimed Advisors Llc also recently made the following trade(s):

• On Wednesday, November 26th, Orbimed Advisors Llc sold 1,600 shares of Sionna Therapeutics stock. The stock was sold at an average price of $44.49, for a total value of $71,184.00.
• On Tuesday, November 25th, Orbimed Advisors Llc sold 11,890 shares of Sionna Therapeutics stock. The shares were sold at an average price of $44.60, for a total transaction of $530,294.00.

Sionna Therapeutics Stock Down 1.1%

Shares of NASDAQ:SION traded down $0.49 during midday trading on Wednesday, reaching $43.79. 179,798 shares of the company were exchanged, compared to its average volume of 224,671. Sionna Therapeutics, Inc. has a fifty-two week low of $7.26 and a fifty-two week high of $45.00. The stock has a fifty day simple moving average of $33.61 and a two-hundred day simple moving average of $23.82. The firm has a market cap of $1.95 billion and a PE ratio of -8.99.

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

Hedge Funds Weigh In On Sionna Therapeutics

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in Sionna Therapeutics by 8.8% in the third quarter. Bank of America Corp DE now owns 6,541 shares of the company’s stock valued at $192,000 after purchasing an additional 529 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Sionna Therapeutics by 35.2% in the third quarter. BNP Paribas Financial Markets now owns 2,380 shares of the company’s stock valued at $70,000 after buying an additional 619 shares during the period. Russell Investments Group Ltd. bought a new position in Sionna Therapeutics in the 3rd quarter valued at approximately $30,000. Police & Firemen s Retirement System of New Jersey bought a new position in Sionna Therapeutics in the 2nd quarter valued at approximately $45,000. Finally, The Manufacturers Life Insurance Company boosted its position in Sionna Therapeutics by 13.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company’s stock worth $660,000 after buying an additional 4,489 shares during the period.

Wall Street Analyst Weigh In

SION has been the subject of a number of research analyst reports. Jones Trading initiated coverage on Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Sionna Therapeutics in a research report on Tuesday. Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 target price for the company. Wall Street Zen downgraded Sionna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, BTIG Research assumed coverage on Sionna Therapeutics in a research report on Wednesday, November 19th. They set a “buy” rating and a $50.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.