325,000 Shares in Sionna Therapeutics, Inc. $SION Purchased by Siren L.L.C.

Key Points

• Siren L.L.C. acquired 325,000 shares of Sionna Therapeutics, valued at approximately $3.4 million, representing about 0.74% ownership in the company.
• Several hedge funds, including Jennison Associates LLC and Aberdeen Group plc, have also recently increased their stakes in Sionna Therapeutics, indicating growing institutional interest.
• Wall Street analysts have given Sionna Therapeutics an average rating of "Buy" with a target price of $38.50, showcasing optimistic expectations for the company's growth.

Siren L.L.C. bought a new position in Sionna Therapeutics, Inc. (NASDAQ:SION - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 325,000 shares of the company's stock, valued at approximately $3,400,000. Siren L.L.C. owned approximately 0.74% of Sionna Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Asset Management Inc acquired a new position in shares of Sionna Therapeutics during the first quarter valued at about $579,000. Charles Schwab Investment Management Inc. acquired a new position in Sionna Therapeutics during the 1st quarter worth approximately $676,000. CenterBook Partners LP acquired a new stake in Sionna Therapeutics in the first quarter valued at approximately $1,195,000. Aberdeen Group plc bought a new stake in shares of Sionna Therapeutics during the first quarter valued at approximately $7,803,000. Finally, Jennison Associates LLC acquired a new position in shares of Sionna Therapeutics during the first quarter worth approximately $8,995,000.

Insider Activity

In other news, CEO Michael Cloonan sold 7,426 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $25.01, for a total value of $185,724.26. Following the transaction, the chief executive officer owned 547,343 shares of the company's stock, valued at $13,689,048.43. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the stock in a transaction on Friday, June 27th. The shares were purchased at an average price of $15.84 per share, for a total transaction of $950,400.00. Following 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. In the last 90 days, insiders sold 48,416 shares of company stock worth $1,226,229. 3.90% of the stock is currently owned by insiders.

Sionna Therapeutics Stock Performance

SION traded up $0.72 during trading on Tuesday, hitting $25.34. 157,143 shares of the company traded hands, compared to its average volume of 190,148. Sionna Therapeutics, Inc. has a one year low of $7.26 and a one year high of $26.50. The firm's fifty day moving average price is $19.90.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last released 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.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $38.50.

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.