Sionna Therapeutics, Inc. (NASDAQ:SION) Receives $38.00 Consensus PT from Brokerages

Sionna Therapeutics, Inc. (NASDAQ:SION) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $38.00.

Several analysts recently weighed in on the stock. Raymond James Financial assumed coverage on shares of Sionna Therapeutics in a research note on Tuesday, September 2nd. They issued a “strong-buy” rating and a $45.00 price objective on the stock. Royal Bank Of Canada assumed coverage on shares of Sionna Therapeutics in a research note on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price objective on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Sionna Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Sionna Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Jones Trading assumed coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They issued a “buy” rating and a $46.00 target price on the stock.

Insider Activity at Sionna Therapeutics

In related news, Director Ra Capital Management, L.P. sold 311,000 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $39.50, for a total value of $12,284,500.00. Following the transaction, the director owned 219,867 shares in the company, valued at $8,684,746.50. The trade was a 58.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce Booth sold 169,260 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $32.35, for a total transaction of $5,475,561.00. Following the completion of the transaction, the director owned 722,301 shares in the company, valued at approximately $23,366,437.35. The trade was a 18.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,280,028 shares of company stock worth $43,449,735 over the last quarter. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Sionna Therapeutics

Several institutional investors have recently made changes to their positions in SION. RA Capital Management L.P. acquired a new position in shares of Sionna Therapeutics during the first quarter valued at about $109,258,000. TPG GP A LLC acquired a new position in shares of Sionna Therapeutics during the first quarter valued at about $69,925,000. Atlas Venture Life Science Advisors LLC acquired a new position in shares of Sionna Therapeutics during the first quarter valued at about $38,639,000. Braidwell LP acquired a new position in shares of Sionna Therapeutics during the second quarter valued at about $18,770,000. Finally, Jennison Associates LLC acquired a new position in shares of Sionna Therapeutics during the first quarter valued at about $8,995,000.

Sionna Therapeutics Stock Performance

NASDAQ SION opened at $37.52 on Thursday. The firm’s fifty day moving average price is $28.29 and its two-hundred day moving average price is $20.26. The stock has a market cap of $1.66 billion and a PE ratio of -8.51. Sionna Therapeutics has a fifty-two week low of $7.26 and a fifty-two week high of $43.19.

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

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.