Sionna Therapeutics (NASDAQ:SION) Research Coverage Started at BTIG Research

BTIG Research began coverage on shares of Sionna Therapeutics (NASDAQ:SION) in a research report released on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $50.00 target price on the stock.

A number of other brokerages have also recently issued reports on SION. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sionna Therapeutics in a report on Thursday, November 13th. Jones Trading initiated coverage on shares of Sionna Therapeutics in a research note on Monday, September 8th. They set a “buy” rating and a $46.00 price objective for the company. Wall Street Zen lowered shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. 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 for the company. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Sionna Therapeutics in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sionna Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $40.00.

Sionna Therapeutics Stock Up 12.1%

Shares of NASDAQ SION opened at $43.66 on Wednesday. The stock has a market capitalization of $1.95 billion and a PE ratio of -8.97. The firm has a fifty day moving average of $32.75 and a 200-day moving average of $23.22. Sionna Therapeutics has a 52-week low of $7.26 and a 52-week high of $43.93.

Sionna Therapeutics (NASDAQ:SION) last posted its quarterly earnings results 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 Activity

In other Sionna Therapeutics news, Director Ra Capital Management, L.P. sold 311,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $8,684,746.50. This trade represents a 58.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cloonan sold 99,800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $36.26, for a total value of $3,618,748.00. Following the completion of the sale, the chief executive officer directly owned 547,343 shares in the company, valued at approximately $19,846,657.18. This trade represents a 15.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,416,379 shares of company stock valued at $48,949,646. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Siren L.L.C. acquired a new position in Sionna Therapeutics during the 1st quarter valued at about $3,400,000. Zimmer Partners LP acquired a new stake in shares of Sionna Therapeutics during the 1st quarter valued at $2,484,000. Goldman Sachs Group Inc. bought a new stake in shares of Sionna Therapeutics during the 1st quarter worth $667,000. Alyeska Investment Group L.P. acquired a new position in shares of Sionna Therapeutics in the 1st quarter worth $1,948,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Sionna Therapeutics during the first quarter worth $676,000.

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.