Sionna Therapeutics (NASDAQ:SION) Given New $6.00 Price Target at Wedbush

Key Points

• Wedbush raised Sionna Therapeutics’ price target from $5 to $6 while maintaining a “neutral” rating, implying 17.65% downside from the stock’s $7.29 opening price.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating, with 11 Holds, one Buy, and one Sell; Sionna also reported a quarterly loss of $0.66 per share, missing estimates by $0.02.
• Sionna shares have fallen sharply from a 52-week high of $54.97, while insiders sold 403,524 shares worth approximately $18.25 million during the last quarter.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) had its price objective hoisted by analysts at Wedbush from $5.00 to $6.00 in a report released on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Wedbush's price target would suggest a potential downside of 17.65% from the stock's current price.

A number of other equities analysts have also commented on the stock. Citizens Jmp lowered shares of Sionna Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, August 10th. Royal Bank Of Canada upgraded shares of Sionna Therapeutics from an "underperform" rating to a "sector perform" rating and set a $5.00 price target for the company in a report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sionna Therapeutics in a research report on Wednesday, August 5th. Stifel Nicolaus restated a "hold" rating and set a $7.00 target price on shares of Sionna Therapeutics in a report on Monday, August 10th. Finally, Guggenheim cut shares of Sionna Therapeutics from a "buy" rating to a "neutral" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $42.33.

Sionna Therapeutics Stock Performance

Shares of NASDAQ:SION opened at $7.29 on Tuesday. Sionna Therapeutics has a 1-year low of $4.01 and a 1-year high of $54.97. The company's fifty day moving average is $25.55 and its two-hundred day moving average is $34.38. The stock has a market capitalization of $329.40 million, a price-to-earnings ratio of -3.43 and a beta of 0.89.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.02). Sell-side analysts expect that Sionna Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Activity at Sionna Therapeutics

In related news, Director Orbimed Advisors Llc sold 85,918 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $44.86, for a total value of $3,854,281.48. Following the transaction, the director directly owned 2,469,959 shares in the company, valued at $110,802,360.74. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter Thompson sold 85,918 shares of Sionna Therapeutics stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $44.86, for a total transaction of $3,854,281.48. Following the transaction, the director directly owned 2,469,959 shares in the company, valued at $110,802,360.74. The trade was a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 403,524 shares of company stock valued at $18,250,367. 5.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sionna Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SION. UBS Group AG boosted its stake in Sionna Therapeutics by 91.1% in the fourth quarter. UBS Group AG now owns 89,177 shares of the company's stock valued at $3,669,000 after buying an additional 42,511 shares in the last quarter. Candriam S.C.A. bought a new position in shares of Sionna Therapeutics in the first quarter worth about $9,494,000. Seven Grand Managers LLC bought a new position in shares of Sionna Therapeutics in the fourth quarter worth about $2,057,000. Eventide Asset Management LLC acquired a new stake in shares of Sionna Therapeutics in the 4th quarter valued at approximately $26,290,000. Finally, BlackRock Inc. bought a new stake in shares of Sionna Therapeutics during the 2nd quarter valued at approximately $64,875,000.

Sionna Therapeutics Company Profile

Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disease that affects the lungs and other organs. The company is developing small-molecule therapies designed to address defects in the cystic fibrosis transmembrane conductance regulator (CFTR) protein, which is responsible for transporting salt and fluids across cell membranes.

Sionna's research is centered on nucleotide-binding domain 1 (NBD1) correctors.

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