Insider Selling: Sionna Therapeutics (NASDAQ:SION) CFO Sells 8,836 Shares of Stock

Key Points

• Elena Ridloff, CFO of Sionna Therapeutics, sold 8,836 shares at an average price of $25.08, resulting in a total transaction of approximately $221,607, which decreased her position by 18.65%.
• Sionna Therapeutics stock price dropped 3.3% to $24.55, with trading volume significantly surpassing its average, amid various insider sales and recent analyst activity.
• Analysts have set a consensus price target of $36.00 for Sionna Therapeutics, with recommendations ranging from "Strong Buy" to "Hold".

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) CFO Elena Ridloff sold 8,836 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.08, for a total transaction of $221,606.88. Following the sale, the chief financial officer owned 38,532 shares in the company, valued at approximately $966,382.56. This trade represents a 18.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Elena Ridloff also recently made the following trade(s):

• On Friday, August 29th, Elena Ridloff sold 748 shares of Sionna Therapeutics stock. The stock was sold at an average price of $25.18, for a total transaction of $18,834.64.
• On Thursday, August 28th, Elena Ridloff sold 16,098 shares of Sionna Therapeutics stock. The stock was sold at an average price of $25.97, for a total transaction of $418,065.06.
• On Wednesday, August 27th, Elena Ridloff sold 3,618 shares of Sionna Therapeutics stock. The stock was sold at an average price of $25.10, for a total transaction of $90,811.80.
• On Tuesday, August 26th, Elena Ridloff sold 3,700 shares of Sionna Therapeutics stock. The stock was sold at an average price of $25.13, for a total transaction of $92,981.00.

Sionna Therapeutics Stock Down 3.3%

NASDAQ SION traded down $0.84 during mid-day trading on Wednesday, reaching $24.55. 617,701 shares of the stock were exchanged, compared to its average volume of 193,090. Sionna Therapeutics, Inc. has a 1-year low of $7.26 and a 1-year high of $26.50. The business's fifty day simple moving average is $20.08 and its 200 day simple moving average is $15.82.

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

Hedge Funds Weigh In On Sionna Therapeutics

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in shares of Sionna Therapeutics in the 2nd quarter valued at $31,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Sionna Therapeutics in the 2nd quarter valued at $45,000. The Manufacturers Life Insurance Company raised its stake in shares of Sionna Therapeutics by 13.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company's stock valued at $660,000 after acquiring an additional 4,489 shares during the period. Virtus Investment Advisers LLC purchased a new position in shares of Sionna Therapeutics in the 2nd quarter valued at $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Sionna Therapeutics in the 2nd quarter valued at $117,000.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SION shares. Raymond James Financial started coverage on shares of Sionna Therapeutics in a research note on Tuesday. They set a "strong-buy" rating and a $45.00 price target on the stock. Wall Street Zen raised shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Royal Bank Of Canada started coverage on shares of Sionna Therapeutics in a research note on Wednesday. They set a "sector perform" rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $36.00.

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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