Insider Selling: Sionna Therapeutics (NASDAQ:SION) CEO Sells 17,207 Shares of Stock

Key Points

• CEO Michael Cloonan of Sionna Therapeutics sold 17,207 shares of the company's stock for approximately $496,422, reducing his ownership by 3.05%.
• Sionna Therapeutics shares were trading down 0.4% at $29.41, with a 12-month high of $30.61 and a low of $7.26.
• Research analysts have issued predominantly positive ratings for Sionna Therapeutics, with an average target price of $38.00.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) CEO Michael Cloonan sold 17,207 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $28.85, for a total value of $496,421.95. Following the completion of the transaction, the chief executive officer owned 547,343 shares of the company's stock, valued at $15,790,845.55. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Michael Cloonan also recently made the following trade(s):

• On Monday, September 29th, Michael Cloonan sold 7,793 shares of Sionna Therapeutics stock. The shares were sold at an average price of $29.70, for a total value of $231,452.10.
• On Tuesday, August 26th, Michael Cloonan sold 17,574 shares of Sionna Therapeutics stock. The shares were sold at an average price of $24.96, for a total value of $438,647.04.
• On Wednesday, August 27th, Michael Cloonan sold 7,426 shares of Sionna Therapeutics stock. The shares were sold at an average price of $25.01, for a total value of $185,724.26.

Sionna Therapeutics Stock Down 0.4%

Shares of SION traded down $0.11 during trading hours on Tuesday, reaching $29.41. The stock had a trading volume of 225,074 shares, compared to its average volume of 207,705. Sionna Therapeutics, Inc. has a 12 month low of $7.26 and a 12 month high of $30.61. The company's 50-day moving average is $22.26 and its two-hundred day moving average is $16.92.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Sionna Therapeutics

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $31,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $45,000. Virtus Investment Advisers LLC bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $117,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $118,000.

About Sionna Therapeutics

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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