Sionna Therapeutics (NASDAQ:SION) Stock Rating Upgraded by Wall Street Zen

Sionna Therapeutics (NASDAQ:SION) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

SION has been the topic of a number of other research reports. Raymond James Financial restated a “strong-buy” rating on shares of Sionna Therapeutics in a report on Wednesday, November 5th. BTIG Research began coverage on shares of Sionna Therapeutics in a research note on Wednesday, November 19th. They set a “buy” rating and a $50.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Sionna Therapeutics in a report on Monday, December 8th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $24.00 price objective on shares of Sionna Therapeutics in a report on Monday, December 1st. Finally, Jones Trading initiated coverage on Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.33.

Sionna Therapeutics Trading Up 2.5%

NASDAQ SION opened at $42.77 on Friday. Sionna Therapeutics has a 1-year low of $7.26 and a 1-year high of $45.00. The company has a market capitalization of $1.91 billion and a PE ratio of -8.78. The firm’s fifty day simple moving average is $37.37 and its 200-day simple moving average is $26.41.

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

Insider Transactions at Sionna Therapeutics

In other news, Director Ra Capital Management, L.P. sold 311,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $39.50, for a total value of $12,284,500.00. Following the sale, the director directly owned 219,867 shares of the company’s stock, valued at approximately $8,684,746.50. This trade represents a 58.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter A. Thompson sold 94,583 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 3,610,376 shares of the company’s stock, valued at $160,806,147.04. This represents a 2.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,604,841 shares of company stock worth $58,312,100. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SION. Bank of America Corp DE grew its stake in shares of Sionna Therapeutics by 8.8% in the third quarter. Bank of America Corp DE now owns 6,541 shares of the company’s stock worth $192,000 after acquiring an additional 529 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Sionna Therapeutics by 35.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,380 shares of the company’s stock valued at $70,000 after purchasing an additional 619 shares during the period. Russell Investments Group Ltd. acquired a new stake in Sionna Therapeutics in the 3rd quarter worth $30,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Sionna Therapeutics in the 2nd quarter worth $45,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of 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 purchasing an additional 4,489 shares during the period.

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.