Insider Selling: Sionna Therapeutics (NASDAQ:SION) CEO Sells 7,793 Shares of Stock

Key Points

• Sionna Therapeutics CEO Michael Cloonan sold 7,793 shares at an average price of $29.70, totaling approximately $231,452.10, reducing his ownership by 1.40%.
• The company's stock has seen a 0.4% decline and is currently trading at $29.41, with a 52-week range between $7.26 and $30.61.
• Sionna Therapeutics recently reported a quarterly EPS of ($0.41), surpassing analysts' expectations, and received multiple analyst upgrades, including a "strong-buy" rating from Raymond James.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) CEO Michael Cloonan sold 7,793 shares of the firm's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $29.70, for a total value of $231,452.10. Following the transaction, the chief executive officer owned 547,343 shares in the company, valued at approximately $16,256,087.10. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, September 26th, Michael Cloonan sold 17,207 shares of Sionna Therapeutics stock. The shares were sold at an average price of $28.85, for a total value of $496,421.95.
• On Tuesday, August 26th, Michael Cloonan sold 17,574 shares of Sionna Therapeutics stock. The stock was 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 stock was sold at an average price of $25.01, for a total value of $185,724.26.

Sionna Therapeutics Trading Down 0.4%

Shares of Sionna Therapeutics stock traded down $0.11 during trading on Tuesday, reaching $29.41. The company's stock had a trading volume of 225,074 shares, compared to its average volume of 207,705. The business's fifty day moving average price is $22.26 and its 200-day moving average price is $16.92. Sionna Therapeutics, Inc. has a one year low of $7.26 and a one year high of $30.61.

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

Analyst Upgrades and Downgrades

SION has been the topic of several analyst reports. Royal Bank Of Canada initiated coverage on Sionna Therapeutics in a research note on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 price objective on the stock. Jones Trading started coverage on Sionna Therapeutics in a research report on Monday, September 8th. They set a "buy" rating and a $46.00 price target on the stock. Wall Street Zen upgraded Sionna Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Raymond James Financial started coverage on Sionna Therapeutics in a research report on Tuesday, September 2nd. They set a "strong-buy" rating and a $45.00 price target on the stock. One investment 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 company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $38.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Soleus Capital Management L.P. lifted its stake in shares of Sionna Therapeutics by 56.7% in the 2nd quarter. Soleus Capital Management L.P. now owns 376,000 shares of the company's stock valued at $6,524,000 after purchasing an additional 136,000 shares during the period. BNP Paribas Financial Markets acquired a new stake in Sionna Therapeutics during the 2nd quarter worth $31,000. Braidwell LP acquired a new stake in Sionna Therapeutics during the 2nd quarter worth $18,770,000. Ameriprise Financial Inc. raised its stake in Sionna Therapeutics by 13.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 236,813 shares of the company's stock worth $4,109,000 after buying an additional 27,547 shares during the period. Finally, Viking Global Investors LP raised its stake in Sionna Therapeutics by 8.2% during the 2nd quarter. Viking Global Investors LP now owns 3,195,181 shares of the company's stock worth $55,436,000 after buying an additional 242,427 shares during the period.

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.

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