Sionna Therapeutics, Inc. (NASDAQ:SION) Stock Has Average Target Price of $42.33 According to Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Sionna Therapeutics, with 11 holds, one sell and one buy; the average 12-month price target is $42.33.
• Several brokerages recently downgraded the stock to neutral or market perform, while Sionna reported a quarterly loss of $0.66 per share, slightly worse than the $0.64 consensus estimate.
• The stock opened at $4.82, down sharply from its 52-week high of $54.97. Director RA Capital Management sold 3.45 million shares for approximately $21.8 million, cutting its ownership by 50%.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) has been given an average recommendation of "Hold" by the thirteen ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $42.33.

SION has been the topic of several recent analyst reports. Citigroup cut shares of Sionna Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, August 10th. Guggenheim lowered Sionna Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, August 10th. Royal Bank Of Canada upgraded Sionna Therapeutics from an "underperform" rating to a "sector perform" rating and set a $5.00 price target on the stock in a research report on Monday, August 10th. Citizens Jmp cut Sionna Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, August 10th. Finally, Raymond James Financial downgraded Sionna Therapeutics from a "strong-buy" rating to a "market perform" rating in a report on Monday, August 10th.

Insiders Place Their Bets

In other Sionna Therapeutics news, Director Ra Capital Management, L.P. sold 3,448,811 shares of the company's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $6.33, for a total value of $21,830,973.63. Following the sale, the director owned 3,448,812 shares in the company, valued at approximately $21,830,979.96. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in Sionna Therapeutics during the second quarter valued at $686,000. AXQ Capital LP purchased a new stake in shares of Sionna Therapeutics during the second quarter valued at approximately $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sionna Therapeutics by 9,056.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,622 shares of the company's stock valued at $467,000 after buying an additional 10,506 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Sionna Therapeutics during the second quarter valued at approximately $1,644,000. Finally, Artia Global Partners LP purchased a new position in Sionna Therapeutics in the 2nd quarter worth approximately $5,267,000.

Sionna Therapeutics Stock Up 1.5%

NASDAQ:SION opened at $4.82 on Thursday. The firm has a market capitalization of $217.91 million, a P/E ratio of -2.21 and a beta of 1.00. Sionna Therapeutics has a 52 week low of $4.01 and a 52 week high of $54.97. The company has a fifty day moving average of $12.06 and a 200 day moving average of $30.71.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.02). As a group, analysts anticipate that Sionna Therapeutics will post -2.54 EPS for the current year.

Sionna Therapeutics Company Profile

Sionna Therapeutics, Inc NASDAQ: SION is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disorder caused by mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene. The company is developing small-molecule therapies intended to address the underlying cause of CF by improving the production, processing, stability and function of defective CFTR proteins.

Sionna's research platform is centered on CFTR modulators, including compounds designed to stabilize the CFTR protein's nucleotide-binding domain 1 (NBD1).

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