Baker BROS. Advisors LP Invests $4.18 Million in Sionna Therapeutics, Inc. $SION

Key Points

• Baker BROS. Advisors LP has invested approximately $4.18 million in Sionna Therapeutics by acquiring 400,000 shares, representing about 0.91% of the company's stock.
• Sionna Therapeutics shares saw a 4.3% decline recently, with a current price of $24.62, amidst a 52-week range from $7.26 to $26.50.
• Wall Street analysts have upgraded Sionna Therapeutics to a "hold" rating, with a consensus price target of $38.50 despite recent insider sales by the company's CEO and CFO.

Baker BROS. Advisors LP acquired a new position in shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 400,000 shares of the company's stock, valued at approximately $4,184,000. Baker BROS. Advisors LP owned about 0.91% of Sionna Therapeutics at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of Sionna Therapeutics during the first quarter worth about $8,995,000. Aberdeen Group plc bought a new stake in Sionna Therapeutics in the first quarter worth approximately $7,803,000. CenterBook Partners LP bought a new stake in Sionna Therapeutics in the first quarter worth approximately $1,195,000. TD Asset Management Inc bought a new stake in Sionna Therapeutics in the first quarter worth approximately $579,000. Finally, Siren L.L.C. bought a new stake in Sionna Therapeutics in the first quarter worth approximately $3,400,000.

Sionna Therapeutics Stock Down 4.3%

Shares of SION stock opened at $24.62 on Tuesday. The business has a 50 day simple moving average of $19.90. Sionna Therapeutics, Inc. has a fifty-two week low of $7.26 and a fifty-two 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 analysts' consensus estimates of ($0.68) by $0.27.

Insider Buying and Selling at Sionna Therapeutics

In other Sionna Therapeutics news, CEO Michael Cloonan sold 7,426 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $25.01, for a total value of $185,724.26. Following the completion of the sale, the chief executive officer owned 547,343 shares of the company's stock, valued at approximately $13,689,048.43. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Elena Ridloff sold 16,098 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $25.97, for a total value of $418,065.06. Following the completion of the sale, the chief financial officer directly owned 48,116 shares of the company's stock, valued at $1,249,572.52. This trade represents a 25.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,416 shares of company stock valued at $1,226,229. Company insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.

Want to see what other hedge funds are holding SION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sionna Therapeutics, Inc. (NASDAQ:SION - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.