Sionna Therapeutics (NASDAQ:SION) Stock Price Down 5.3% – What’s Next?

Sionna Therapeutics, Inc. (NASDAQ:SION)’s stock price was down 5.3% during mid-day trading on Monday . The company traded as low as $15.99 and last traded at $16.31. Approximately 92,916 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 183,939 shares. The stock had previously closed at $17.22.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Guggenheim initiated coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a “buy” rating and a $45.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Sionna Therapeutics in a report on Tuesday, March 4th. They set a “buy” rating and a $32.00 price target for the company. TD Cowen started coverage on Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a “buy” rating on the stock. Finally, Wall Street Zen downgraded Sionna Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Sionna Therapeutics Trading Down 4.4%

The stock has a fifty day simple moving average of $12.17.

Sionna Therapeutics (NASDAQ:SION) last posted its earnings results on Monday, May 12th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.17).

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SION. Zimmer Partners LP bought a new position in shares of Sionna Therapeutics in the 1st quarter valued at about $2,484,000. Alyeska Investment Group L.P. bought a new position in Sionna Therapeutics during the first quarter worth about $1,948,000. Charles Schwab Investment Management Inc. acquired a new position in Sionna Therapeutics during the first quarter worth approximately $676,000. RA Capital Management L.P. bought a new stake in Sionna Therapeutics in the first quarter valued at approximately $109,258,000. Finally, Baker BROS. Advisors LP acquired a new stake in shares of Sionna Therapeutics in the first quarter valued at approximately $4,184,000.

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.