Siren L.L.C. Purchases New Stake 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 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc acquired a new position in shares of Sionna Therapeutics in the 1st quarter worth approximately $579,000. Goldman Sachs Group Inc. acquired a new position in shares of Sionna Therapeutics during the 1st quarter valued at $667,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Sionna Therapeutics during the 1st quarter valued at $676,000. Woodline Partners LP acquired a new position in shares of Sionna Therapeutics during the 1st quarter valued at $837,000. Finally, CenterBook Partners LP acquired a new position in shares of Sionna Therapeutics during the 1st quarter valued at $1,195,000.

Analyst Ratings Changes

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

Sionna Therapeutics Stock Performance

SION traded down $0.97 during trading on Friday, hitting $22.83. 180,272 shares of the company's stock were exchanged, compared to its average volume of 253,008. The business's 50 day moving average is $20.95 and its two-hundred day moving average is $16.16. Sionna Therapeutics, Inc. has a fifty-two week low of $7.26 and a fifty-two week high of $26.50.

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

Insider Activity

In other news, major shareholder Tpg Gp A, Llc bought 60,000 shares of the 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 completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cloonan sold 7,426 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $25.01, for a total transaction of $185,724.26. Following the completion of the sale, the chief executive officer owned 547,343 shares of the company's stock, valued at approximately $13,689,048.43. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,000 shares of company stock worth $1,466,671 over the last quarter. Insiders own 3.90% of the company's stock.

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.