RA Capital Management L.P. Acquires Shares of 10,445,322 Sionna Therapeutics, Inc. $SION

Key Points

• RA Capital Management L.P. has invested approximately $109.26 million in Sionna Therapeutics, Inc., acquiring over 10 million shares, which constitutes about 1.8% of their investment portfolio.
• Sionna Therapeutics recently reported earnings per share of ($0.41), surpassing analysts' estimates by $0.27 with a consensus rating of "Buy" and an average price target of $38.50.
• Insider activity shows significant stock sales, with CEO Michael Cloonan selling over 7,000 shares and CFO Elena Ridloff selling more than 16,000 shares recently.

RA Capital Management L.P. 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 10,445,322 shares of the company's stock, valued at approximately $109,258,000. Sionna Therapeutics accounts for about 1.8% of RA Capital Management L.P.'s holdings, making the stock its 12th biggest holding. RA Capital Management L.P. owned 23.67% of Sionna Therapeutics as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc acquired a new position in Sionna Therapeutics in the first quarter valued at approximately $579,000. Charles Schwab Investment Management Inc. acquired a new position in Sionna Therapeutics in the first quarter valued at approximately $676,000. CenterBook Partners LP acquired a new position in Sionna Therapeutics in the first quarter valued at approximately $1,195,000. Siren L.L.C. acquired a new position in Sionna Therapeutics in the first quarter valued at approximately $3,400,000. Finally, Driehaus Capital Management LLC acquired a new position in Sionna Therapeutics in the first quarter valued at approximately $3,440,000.

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 that occurred on Friday, June 27th. The stock was acquired at an average price of $15.84 per share, for a total transaction of $950,400.00. Following the completion of the acquisition, the insider owned 6,744,962 shares of the company's stock, valued at $106,840,198.08. This represents a 0.90% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elena Ridloff sold 8,836 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.08, for a total value of $221,606.88. Following the sale, the chief financial officer owned 38,532 shares of the company's stock, 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. 3.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Sionna Therapeutics Price Performance

Shares of NASDAQ:SION traded up $0.94 during trading on Friday, reaching $24.00. 323,084 shares of the stock were exchanged, compared to its average volume of 220,146. Sionna Therapeutics, Inc. has a 1-year low of $7.26 and a 1-year high of $26.50. The stock has a fifty day moving average of $20.60 and a two-hundred day moving average of $15.99.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.27.

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.