3,694,020 Shares in Sionna Therapeutics, Inc. $SION Bought by Atlas Venture Life Science Advisors LLC

Key Points

• Atlas Venture Life Science Advisors LLC invested approximately $38.64 million in Sionna Therapeutics, acquiring about 3.69 million shares in the first quarter, which makes it the fund's fifth largest holding.
• Major shareholder Tpg Gp A, LLC recently purchased 60,000 shares at an average price of $15.84, increasing their ownership to 6.74 million shares.
• Sionna Therapeutics was upgraded from a "sell" to a "hold" rating by analysts, with a consensus target price of $38.50 and a current stock price of $24.39.

Atlas Venture Life Science Advisors LLC bought a new stake in Sionna Therapeutics, Inc. (NASDAQ:SION - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,694,020 shares of the company's stock, valued at approximately $38,639,000. Sionna Therapeutics makes up 7.4% of Atlas Venture Life Science Advisors LLC's holdings, making the stock its 5th largest position. Atlas Venture Life Science Advisors LLC owned 8.37% of Sionna Therapeutics at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. TD Asset Management Inc acquired a new stake in Sionna Therapeutics in the first quarter valued at approximately $579,000. Charles Schwab Investment Management Inc. acquired a new stake in Sionna Therapeutics in the first quarter valued at 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 acquired a new stake in Sionna Therapeutics in the first quarter valued at approximately $7,803,000. Finally, Jennison Associates LLC acquired a new stake in Sionna Therapeutics in the first quarter valued at approximately $8,995,000.

Insider Activity

In other Sionna Therapeutics news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the company's stock in a transaction dated Friday, June 27th. The stock was purchased at an average price of $15.84 per share, with a total value of $950,400.00. Following the completion of the purchase, the insider owned 6,744,962 shares of the company's stock, valued at approximately $106,840,198.08. The trade was a 0.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

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

Sionna Therapeutics Stock Performance

Shares of SION stock traded down $0.04 during trading hours on Wednesday, hitting $25.18. 174,627 shares of the company's stock traded hands, compared to its average volume of 191,423. The firm has a 50 day moving average price of $19.05. Sionna Therapeutics, Inc. has a 12 month low of $7.26 and a 12 month high of $25.88.

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

About Sionna Therapeutics

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.