Sionna Therapeutics (NASDAQ:SION) Stock Price Down 8.8% – Here’s Why

Sionna Therapeutics, Inc. (NASDAQ:SION) shares traded down 8.8% during trading on Wednesday . The stock traded as low as $32.40 and last traded at $32.49. 52,251 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 222,474 shares. The stock had previously closed at $35.64.

Analyst Ratings Changes

Several analysts recently commented on the company. Wall Street Zen raised Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sionna Therapeutics in a report on Wednesday, October 8th. Raymond James Financial started coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price target for the company. Jones Trading started coverage on Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 price target for the company. Finally, Royal Bank Of Canada started coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sionna Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Sionna Therapeutics Stock Down 1.2%

The stock has a market cap of $1.55 billion and a P/E ratio of -7.98. The business has a 50 day moving average price of $29.30 and a two-hundred day moving average price of $21.09.

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

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. sold 62,610 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $39.58, for a total value of $2,478,103.80. Following the sale, the director directly owned 209,391 shares in the company, valued at approximately $8,287,695.78. The trade was a 23.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce Booth sold 88,878 shares of the business’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $34.22, for a total value of $3,041,405.16. Following the completion of the sale, the director owned 686,567 shares in the company, valued at $23,494,322.74. This represents a 11.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,280,028 shares of company stock worth $43,449,735. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Sionna Therapeutics

A number of hedge funds have recently made changes to their positions in SION. Jennison Associates LLC purchased a new stake in shares of Sionna Therapeutics in the first quarter worth about $8,995,000. TD Asset Management Inc purchased a new stake in Sionna Therapeutics during the first quarter valued at approximately $579,000. Charles Schwab Investment Management Inc. purchased a new stake in Sionna Therapeutics during the first quarter valued at approximately $676,000. CenterBook Partners LP purchased a new stake in Sionna Therapeutics during the first quarter valued at approximately $1,195,000. Finally, Aberdeen Group plc purchased a new stake in Sionna Therapeutics during the first quarter valued at approximately $7,803,000.

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.