Charles Schwab Investment Management Inc. Invests $676,000 in Sionna Therapeutics, Inc. $SION

Charles Schwab Investment Management Inc. bought a new stake in shares of 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. The fund bought 64,644 shares of the company's stock, valued at approximately $676,000. Charles Schwab Investment Management Inc. owned approximately 0.15% of Sionna Therapeutics at the end of the most recent quarter.

Separately, Jennison Associates LLC bought a new stake in shares of Sionna Therapeutics during the 1st quarter valued at $8,995,000.

Sionna Therapeutics Price Performance

NASDAQ:SION traded up $0.94 during mid-day trading on Friday, reaching $24.00. The company's stock had a trading volume of 323,084 shares, compared to its average volume of 220,146. The firm's fifty day moving average price is $20.60 and its two-hundred day moving average price is $15.99. 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 posted its 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.

Analyst Ratings Changes

SION has been the topic of a number of research reports. Raymond James Financial initiated coverage on shares of Sionna Therapeutics in a report on Tuesday. They set a "strong-buy" rating and a $45.00 target price on the stock. Wall Street Zen upgraded shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Royal Bank Of Canada assumed coverage on Sionna Therapeutics in a research report on Wednesday. They issued a "sector perform" rating and a $22.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Sionna Therapeutics currently has an average rating of "Buy" and an average target price of $36.00.

Insider Buying and Selling at Sionna Therapeutics

In other Sionna Therapeutics news, CFO Elena Ridloff sold 16,098 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $25.97, for a total transaction of $418,065.06. Following the transaction, the chief financial officer owned 48,116 shares in the company, valued at approximately $1,249,572.52. This represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cloonan sold 17,574 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $24.96, for a total transaction of $438,647.04. Following the transaction, the chief executive officer owned 547,343 shares in the company, valued at $13,661,681.28. This represents a 3.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,000 shares of company stock worth $1,466,671. Company insiders own 3.90% of the company's stock.

Sionna Therapeutics Company 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.