Zimmer Partners LP Takes Position in Sionna Therapeutics, Inc. $SION

Key Points

• Zimmer Partners LP purchased 237,500 shares of Sionna Therapeutics for approximately $2.48 million, which reflects a 0.54% ownership stake in the company.
• A major shareholder, TPG GP A LLC, acquired 60,000 shares at $15.84 each, increasing their position by 0.90% and now owning shares valued at over $106 million.
• Wall Street analysts have given Sionna Therapeutics a consensus rating of "Buy" with a target price of $38.00, indicating positive growth prospects for the company.

Zimmer Partners LP purchased a new stake in Sionna Therapeutics, Inc. (NASDAQ:SION - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 237,500 shares of the company's stock, valued at approximately $2,484,000. Zimmer Partners LP owned approximately 0.54% of Sionna Therapeutics as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SION. Goldman Sachs Group Inc. acquired a new stake in Sionna Therapeutics during the 1st quarter valued at $667,000. Alyeska Investment Group L.P. acquired a new stake in shares of Sionna Therapeutics in the first quarter valued at $1,948,000. RA Capital Management L.P. bought a new position in shares of Sionna Therapeutics in the first quarter valued at about $109,258,000. Baker BROS. Advisors LP acquired a new position in Sionna Therapeutics during the 1st quarter worth about $4,184,000. Finally, TPG GP A LLC bought a new stake in Sionna Therapeutics during the 1st quarter worth about $69,925,000.

Sionna Therapeutics Stock Performance

Shares of SION stock traded down $0.97 on Friday, reaching $22.83. The company had a trading volume of 180,272 shares, compared to its average volume of 199,087. The company has a 50-day moving average of $20.92 and a 200-day moving average of $16.11. Sionna Therapeutics, Inc. has a 12 month low of $7.26 and a 12 month high of $26.50.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.27.

Insider Activity at Sionna Therapeutics

In other news, CEO Michael Cloonan sold 7,426 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $25.01, for a total transaction of $185,724.26. Following the sale, the chief executive officer owned 547,343 shares of the company's stock, valued at $13,689,048.43. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elena Ridloff sold 8,836 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.08, for a total transaction of $221,606.88. Following the sale, the chief financial officer owned 38,532 shares in the company, valued at $966,382.56. This trade represents a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,000 shares of company stock worth $1,466,671 in the last quarter. Corporate insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SION shares. Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a research report on Wednesday, September 3rd. They set a "sector perform" rating and a $22.00 target price on the stock. Jones Trading assumed coverage on Sionna Therapeutics in a research report on Monday. They issued a "buy" rating and a $46.00 price objective on the stock. Wall Street Zen upgraded Sionna Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Raymond James Financial began coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Sionna Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $38.00.

Sionna Therapeutics 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.