Siren L.L.C. Takes $3.40 Million Position in Sionna Therapeutics, Inc. $SION

Key Points

• Siren L.L.C. has acquired a new stake in Sionna Therapeutics, Inc., purchasing 325,000 shares valued at approximately $3.4 million, representing 0.74% of the company.
• Multiple institutional investors, including RA Capital Management and TPG GP A LLC, have also made significant new investments in Sionna Therapeutics, showing increased institutional interest.
• Research analysts have positive outlooks on Sionna Therapeutics, with ratings ranging from "buy" to "strong buy" and target prices up to $46.00, indicating a strong market sentiment.

Siren L.L.C. bought a new position in shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 325,000 shares of the company's stock, valued at approximately $3,400,000. Siren L.L.C. owned 0.74% of Sionna Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SION. Jennison Associates LLC purchased a new position in shares of Sionna Therapeutics during the first quarter valued at $8,995,000. TD Asset Management Inc acquired a new position in shares of Sionna Therapeutics during the 1st quarter valued at about $579,000. Charles Schwab Investment Management Inc. bought a new stake in Sionna Therapeutics during the 1st quarter valued at approximately $676,000. CenterBook Partners LP bought a new stake in Sionna Therapeutics during the 1st quarter valued at approximately $1,195,000. Finally, Aberdeen Group plc bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth approximately $7,803,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SION. Wall Street Zen raised Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Royal Bank Of Canada began coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 target price for the company. Jones Trading began coverage on Sionna Therapeutics in a report on Monday, September 8th. They issued a "buy" rating and a $46.00 target price for the company. Finally, Raymond James Financial began coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $38.00.

Insiders Place Their Bets

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

Sionna Therapeutics Stock Up 0.3%

Shares of Sionna Therapeutics stock traded up $0.07 during trading on Tuesday, reaching $22.38. 51,544 shares of the company were exchanged, compared to its average volume of 197,525. The business has a 50-day moving average price of $20.98 and a 200-day moving average price of $16.22. Sionna Therapeutics, Inc. has a twelve month low of $7.26 and a twelve 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 for the quarter, topping the consensus estimate 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.