859,927 Shares in Sionna Therapeutics, Inc. (NASDAQ:SION) Bought by Jennison Associates LLC

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

Sionna Therapeutics Trading Down 3.2%

Shares of Sionna Therapeutics stock traded down $0.63 during trading hours on Thursday, hitting $19.14. The company had a trading volume of 93,215 shares, compared to its average volume of 276,498. The company's 50-day moving average price is $16.59. Sionna Therapeutics, Inc. has a twelve month low of $7.26 and a twelve month high of $25.19.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last released its quarterly earnings data 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).

Wall Street Analyst Weigh In

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

Insider Activity

In other news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were bought at an average price of $15.84 per share, with a total value of $950,400.00. Following the completion of the transaction, the insider directly owned 6,744,962 shares in the company, valued at approximately $106,840,198.08. This represents a 0.90% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.90% of the stock is currently owned by company insiders.

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.