Sionna Therapeutics (NASDAQ:SION) Posts Earnings Results, Beats Estimates By $0.06 EPS

Sionna Therapeutics (NASDAQ:SION) issued its earnings results on Wednesday. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.06, Zacks reports.

Sionna Therapeutics Trading Down 1.2%

Sionna Therapeutics stock traded down $0.43 during midday trading on Wednesday, reaching $35.21. 123,032 shares of the stock traded hands, compared to its average volume of 222,901. The firm has a fifty day moving average price of $29.30 and a two-hundred day moving average price of $21.09. The firm has a market cap of $1.55 billion and a price-to-earnings ratio of -7.98. Sionna Therapeutics has a fifty-two week low of $7.26 and a fifty-two week high of $43.19.

Insider Buying and Selling at Sionna Therapeutics

In other Sionna Therapeutics news, CEO Michael Cloonan sold 99,800 shares of the business’s stock in a transaction dated 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 directly owned 547,343 shares of the company’s stock, valued at $19,846,657.18. The trade was a 15.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce Booth sold 169,260 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $32.35, for a total transaction 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 disclosure for this sale is available in the SEC filing. Insiders sold 1,280,028 shares of company stock valued at $43,449,735 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Sionna Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SION. Viking Global Investors LP grew its position in Sionna Therapeutics by 8.2% in the second quarter. Viking Global Investors LP now owns 3,195,181 shares of the company’s stock worth $55,436,000 after acquiring an additional 242,427 shares in the last quarter. Soleus Capital Management L.P. grew its position in Sionna Therapeutics by 56.7% in the 2nd quarter. Soleus Capital Management L.P. now owns 376,000 shares of the company’s stock worth $6,524,000 after purchasing an additional 136,000 shares during the last quarter. Geode Capital Management LLC raised its position in Sionna Therapeutics by 113.4% in the second quarter. Geode Capital Management LLC now owns 289,275 shares of the company’s stock worth $5,020,000 after purchasing an additional 153,712 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Sionna Therapeutics by 13.2% during the second quarter. Ameriprise Financial Inc. now owns 236,813 shares of the company’s stock worth $4,109,000 after purchasing an additional 27,547 shares during the period. Finally, Woodline Partners LP bought a new position in Sionna Therapeutics during the first quarter worth about $837,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Sionna Therapeutics in a report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price target for the company. Jones Trading began coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 price objective for the company. Wall Street Zen raised shares of Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Raymond James Financial began coverage on shares of Sionna Therapeutics in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sionna Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sionna Therapeutics currently has a consensus rating of “Moderate 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.