Sionna Therapeutics (NASDAQ:SION) Price Target Raised to $6.00

Sionna Therapeutics (NASDAQ:SION) had its price objective boosted by Wedbush from $5.00 to $6.00 in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently weighed in on SION. Citigroup downgraded Sionna Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. Citizens Jmp cut Sionna Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. BTIG Research downgraded Sionna Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, August 10th. Raymond James Financial lowered Sionna Therapeutics from a “strong-buy” rating to a “market perform” rating in a research note on Monday, August 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $7.00 target price on shares of Sionna Therapeutics in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.33.

Sionna Therapeutics Trading Up 2.0%

Sionna Therapeutics stock opened at $7.18 on Tuesday. The firm has a 50-day moving average price of $23.29 and a 200-day moving average price of $33.73. The firm has a market capitalization of $324.61 million, a PE ratio of -3.29 and a beta of 0.89. Sionna Therapeutics has a 12-month low of $4.01 and a 12-month high of $54.97.

Sionna Therapeutics (NASDAQ:SION) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.02). As a group, sell-side analysts predict that Sionna Therapeutics will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sionna Therapeutics news, Director Orbimed Advisors Llc sold 85,918 shares of Sionna Therapeutics stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $44.86, for a total transaction of $3,854,281.48. Following the completion of the sale, the director directly owned 2,469,959 shares of the company’s stock, valued at $110,802,360.74. The trade was a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter A. Thompson sold 85,918 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $44.86, for a total value of $3,854,281.48. Following the completion of the sale, the director owned 2,469,959 shares of the company’s stock, valued at $110,802,360.74. This represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 403,524 shares of company stock valued at $18,250,367 in the last quarter. 5.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sionna Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SION. State of Wyoming bought a new stake in shares of Sionna Therapeutics in the second quarter valued at about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Sionna Therapeutics during the 2nd quarter worth about $44,000. Quantbot Technologies LP bought a new position in Sionna Therapeutics during the 2nd quarter worth about $80,000. Strs Ohio purchased a new position in Sionna Therapeutics during the 1st quarter valued at about $116,000. Finally, AXQ Capital LP purchased a new position in Sionna Therapeutics during the 2nd quarter valued at about $202,000.

Sionna Therapeutics Company Profile

Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disease that affects the lungs and other organs. The company is developing small-molecule therapies designed to address defects in the cystic fibrosis transmembrane conductance regulator (CFTR) protein, which is responsible for transporting salt and fluids across cell membranes.

Sionna’s research is centered on nucleotide-binding domain 1 (NBD1) correctors.