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

A number of other large investors have also added to or reduced their stakes in SION. RA Capital Management L.P. purchased a new position in Sionna Therapeutics during the first quarter valued at $109,258,000. TPG GP A LLC bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth $69,925,000. Atlas Venture Life Science Advisors LLC bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth $38,639,000. Jennison Associates LLC bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth $8,995,000. Finally, Aberdeen Group plc bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth $7,803,000.

Sionna Therapeutics Price Performance

NASDAQ SION traded down $0.97 on Friday, hitting $22.83. 180,272 shares of the company traded hands, compared to its average volume of 253,008. The business's 50 day moving average price is $20.95 and its 200-day moving average price is $16.16. Sionna Therapeutics, Inc. has a 52-week low of $7.26 and a 52-week high of $26.50.

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

Wall Street Analyst Weigh In

A number of analysts have 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. Royal Bank Of Canada began coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 price objective for the company. 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 objective for the company. Finally, Jones Trading began coverage on Sionna Therapeutics in a report on Monday, September 8th. They issued a "buy" rating and a $46.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $38.00.

Insider Activity

In other news, CFO Elena Ridloff sold 16,098 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $25.97, for a total value of $418,065.06. Following the transaction, the chief financial officer directly owned 48,116 shares in the company, valued at $1,249,572.52. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tpg Gp A, Llc acquired 60,000 shares of the stock in a transaction dated Friday, June 27th. The stock was acquired at an average price of $15.84 per share, for a total transaction of $950,400.00. Following the completion of the transaction, the insider directly owned 6,744,962 shares of the company's stock, valued at approximately $106,840,198.08. This represents a 0.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 58,000 shares of company stock worth $1,466,671 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

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.