Jennison Associates LLC Buys New Position in Sionna Therapeutics, Inc. (NASDAQ:SION)

Jennison Associates LLC bought a new stake in shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 859,927 shares of the company's stock, valued at approximately $8,995,000. Jennison Associates LLC owned about 1.95% of Sionna Therapeutics as of its most recent SEC filing.

Sionna Therapeutics Stock Performance

SION stock opened at $16.74 on Monday. The stock has a fifty day simple moving average of $16.11. Sionna Therapeutics, Inc. has a 1-year low of $7.26 and a 1-year high of $25.19.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.17).

Insider Activity

In related news, major shareholder Tpg Gp A, Llc acquired 60,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were bought at an average cost of $15.84 per share, for a total transaction of $950,400.00. Following the purchase, the insider owned 6,744,962 shares in the company, valued at $106,840,198.08. This trade represents a 0.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Wall Street Zen cut Sionna Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

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.

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