Insider Selling: Sionna Therapeutics (NASDAQ:SION) CEO Sells $231,452.10 in Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) CEO Michael Cloonan sold 7,793 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $29.70, for a total value of $231,452.10. Following the completion of the transaction, the chief executive officer owned 547,343 shares of the company’s stock, valued at approximately $16,256,087.10. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Michael Cloonan also recently made the following trade(s):

• On Friday, September 26th, Michael Cloonan sold 17,207 shares of Sionna Therapeutics stock. The shares were sold at an average price of $28.85, for a total transaction of $496,421.95.
• On Tuesday, August 26th, Michael Cloonan sold 17,574 shares of Sionna Therapeutics stock. The stock was sold at an average price of $24.96, for a total transaction of $438,647.04.
• On Wednesday, August 27th, Michael Cloonan sold 7,426 shares of Sionna Therapeutics stock. The shares were sold at an average price of $25.01, for a total transaction of $185,724.26.

Sionna Therapeutics Price Performance

NASDAQ:SION opened at $29.30 on Friday. Sionna Therapeutics, Inc. has a one year low of $7.26 and a one year high of $30.60. The company’s 50-day simple moving average is $22.85 and its 200 day simple moving average is $17.19.

Sionna Therapeutics (NASDAQ:SION) last released its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.27.

Analyst Ratings Changes

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

Institutional Trading of Sionna Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SION. BNP Paribas Financial Markets bought a new stake in shares of Sionna Therapeutics during the 2nd quarter valued at $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Sionna Therapeutics in the second quarter worth about $45,000. The Manufacturers Life Insurance Company raised its stake in shares of Sionna Therapeutics by 13.4% in the second quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company’s stock worth $660,000 after buying an additional 4,489 shares during the period. Virtus Investment Advisers LLC purchased a new position in shares of Sionna Therapeutics during the 2nd quarter valued at about $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Sionna Therapeutics during the 2nd quarter valued at approximately $117,000.

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.