Insider Selling: Sionna Therapeutics (NASDAQ:SION) CEO Sells 99,800 Shares of Stock

Key Points

• Michael Cloonan, CEO of Sionna Therapeutics, sold 99,800 shares at an average price of $36.26, totaling approximately $3.6 million, which reduced his ownership stake by 15.42%.
• Sionna Therapeutics' stock price dropped by 8.5% to $38.90, amid significant trading volume of 580,555 shares.
• The company reported a quarterly earnings per share of ($0.41), which surpassed the consensus estimate of ($0.68) by $0.27, indicating stronger-than-expected performance.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) CEO Michael Cloonan sold 99,800 shares of the business's stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $36.26, for a total transaction of $3,618,748.00. Following the sale, the chief executive officer owned 547,343 shares of the company's stock, valued at $19,846,657.18. This represents a 15.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, October 16th, Michael Cloonan sold 10,425 shares of Sionna Therapeutics stock. The stock was sold at an average price of $31.51, for a total transaction of $328,491.75.
• On Wednesday, October 15th, Michael Cloonan sold 14,775 shares of Sionna Therapeutics stock. The stock was sold at an average price of $31.11, for a total transaction of $459,650.25.
• On Monday, September 29th, Michael Cloonan sold 7,793 shares of Sionna Therapeutics stock. The stock was sold at an average price of $29.70, for a total transaction of $231,452.10.
• On Friday, September 26th, Michael Cloonan sold 17,207 shares of Sionna Therapeutics stock. The stock was sold at an average price of $28.85, for a total transaction 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 transaction 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 transaction of $185,724.26.

Sionna Therapeutics Stock Down 8.5%

Shares of NASDAQ:SION traded down $3.60 during trading on Wednesday, hitting $38.90. 580,555 shares of the company were exchanged, compared to its average volume of 224,012. Sionna Therapeutics, Inc. has a 12-month low of $7.26 and a 12-month high of $43.19. The firm's 50 day moving average price is $26.19 and its 200-day moving average price is $18.93.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jones Trading assumed coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They issued a "buy" rating and a $46.00 target price on the stock. Royal Bank Of Canada assumed coverage on shares of Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 target price on the stock. Wall Street Zen raised shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Raymond James Financial assumed coverage on shares of Sionna Therapeutics in a report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Sionna Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sionna Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Hedge Funds Weigh In On Sionna Therapeutics

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Sionna Therapeutics in the 2nd quarter valued at $31,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Sionna Therapeutics in the 2nd quarter valued at $45,000. Virtus Investment Advisers LLC acquired a new position in Sionna Therapeutics in the 2nd quarter valued at $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Sionna Therapeutics in the 2nd quarter valued at $117,000. Finally, New York State Common Retirement Fund acquired a new position in Sionna Therapeutics in the 2nd quarter valued at $118,000.

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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