Sionna Therapeutics (NASDAQ:SION) Sets New 52-Week High – Here’s Why

Sionna Therapeutics, Inc. (NASDAQ:SION) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.85 and last traded at $26.04, with a volume of 47613 shares traded. The stock had previously closed at $25.89.

Wall Street Analyst Weigh In

A number of research firms recently commented on SION. Jones Trading began coverage on Sionna Therapeutics in a research report on Monday, September 8th. They set a “buy” rating and a $46.00 price target on the stock. Wall Street Zen upgraded Sionna Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Royal Bank Of Canada began coverage on Sionna Therapeutics in a research note on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price objective on the stock. Finally, Raymond James Financial initiated coverage on Sionna Therapeutics in a research note on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sionna Therapeutics presently has an average rating of “Buy” and a consensus target price of $38.00.

Sionna Therapeutics Stock Performance

The firm’s fifty day moving average price is $21.26 and its 200-day moving average price is $16.51.

Sionna Therapeutics (NASDAQ:SION) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.27.

Insider Buying and Selling at Sionna Therapeutics

In related news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were bought at an average price of $15.84 per share, with a total value of $950,400.00. Following the acquisition, the insider owned 6,744,962 shares of the company’s stock, valued at $106,840,198.08. This trade represents a 0.90% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cloonan sold 17,574 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $24.96, for a total transaction of $438,647.04. Following the sale, the chief executive officer directly owned 547,343 shares in the company, valued at $13,661,681.28. The trade was a 3.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,000 shares of company stock worth $1,466,671. Insiders own 3.90% of the company’s stock.

Institutional Trading of Sionna Therapeutics

Several institutional investors have recently added to or reduced their stakes in SION. Soleus Capital Management L.P. boosted its holdings in shares of Sionna Therapeutics by 56.7% during the second 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 period. BNP Paribas Financial Markets purchased a new stake in Sionna Therapeutics in the second quarter worth about $31,000. Braidwell LP purchased a new stake in Sionna Therapeutics in the second quarter worth about $18,770,000. Ameriprise Financial Inc. lifted its holdings in Sionna Therapeutics by 13.2% in the second quarter. Ameriprise Financial Inc. now owns 236,813 shares of the company’s stock worth $4,109,000 after buying an additional 27,547 shares during the period. Finally, Viking Global Investors LP increased its stake in shares of Sionna Therapeutics by 8.2% during the second quarter. Viking Global Investors LP now owns 3,195,181 shares of the company’s stock valued at $55,436,000 after purchasing an additional 242,427 shares in the last quarter.

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.