328,889 Shares in Sionna Therapeutics, Inc. $SION Purchased by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC acquired a new position in Sionna Therapeutics, purchasing 328,889 shares valued at approximately $3.44 million, making up about 0.75% of the company's total shares.
• CEO Michael Cloonan sold 7,426 shares at an average price of $25.01, reducing his ownership by 1.34%, while major shareholder Tpg Gp A, Llc increased their holding by acquiring 60,000 shares.
• Wall Street Zen upgraded Sionna Therapeutics from a "sell" to a "hold" rating, with a consensus target price of $38.50, while the stock currently has an average rating of "Buy".

Driehaus Capital Management LLC purchased a new stake in Sionna Therapeutics, Inc. (NASDAQ:SION - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 328,889 shares of the company's stock, valued at approximately $3,440,000. Driehaus Capital Management LLC owned 0.75% of Sionna Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of SION. Atlas Venture Life Science Advisors LLC acquired a new position in shares of Sionna Therapeutics during the 1st quarter valued at $38,639,000. Jennison Associates LLC acquired a new position in shares of Sionna Therapeutics during the first quarter valued at about $8,995,000. Aberdeen Group plc bought a new position in shares of Sionna Therapeutics during the 1st quarter worth about $7,803,000. Siren L.L.C. acquired a new stake in shares of Sionna Therapeutics in the 1st quarter valued at about $3,400,000. Finally, CenterBook Partners LP bought a new stake in Sionna Therapeutics in the 1st quarter valued at about $1,195,000.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen upgraded Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Raymond James Financial started coverage on Sionna Therapeutics in a report on Tuesday. They issued a "strong-buy" rating and a $45.00 target price on the stock. Finally, Royal Bank Of Canada initiated coverage on shares of 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 issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $36.00.

Insider Buying and Selling

In related news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $15.84 per share, for a total transaction of $950,400.00. Following the purchase, the insider directly owned 6,744,962 shares in the company, valued at approximately $106,840,198.08. This trade represents a 0.90% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elena Ridloff sold 8,836 shares of Sionna Therapeutics stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.08, for a total transaction of $221,606.88. Following the completion of the sale, the chief financial officer directly owned 38,532 shares in the company, valued at $966,382.56. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,000 shares of company stock worth $1,466,671. Insiders own 3.90% of the company's stock.

Sionna Therapeutics Stock Performance

Shares of SION traded down $1.31 on Thursday, reaching $23.24. 159,506 shares of the company's stock traded hands, compared to its average volume of 193,220. The stock's 50 day simple moving average is $20.27 and its two-hundred day simple moving average is $15.88. 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 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.

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.