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 dated Tuesday, September 2nd. The stock was sold at an average price of $25.08, for a total value of $221,606.88. Following the transaction, 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 at 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 shares were sold at an average price of $25.18, for a total value of $18,834.64.
• On Thursday, August 28th, Elena Ridloff sold 16,098 shares of Sionna Therapeutics stock. The shares were sold at an average price of $25.97, for a total value 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 value 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 value of $92,981.00.

Sionna Therapeutics Stock Performance

NASDAQ SION traded down $2.38 on Monday, reaching $21.62. The stock had a trading volume of 499,256 shares, compared to its average volume of 228,043. The firm has a fifty day moving average of $20.69 and a two-hundred day moving average of $15.97. Sionna Therapeutics, Inc. has a 1-year low of $7.26 and a 1-year high of $26.50.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Sionna Therapeutics

A number of large investors have recently modified their holdings of the company. RA Capital Management L.P. acquired a new position in shares of Sionna Therapeutics during the first quarter worth $109,258,000. TPG GP A LLC purchased a new position in Sionna Therapeutics in the 1st quarter valued at about $69,925,000. Atlas Venture Life Science Advisors LLC purchased a new position in Sionna Therapeutics in the 1st quarter valued at about $38,639,000. Viking Global Investors LP raised its holdings in Sionna Therapeutics by 8.2% in the 2nd quarter. Viking Global Investors LP now owns 3,195,181 shares of the company's stock valued at $55,436,000 after acquiring an additional 242,427 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Sionna Therapeutics by 2.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,221,188 shares of the company's stock valued at $38,538,000 after acquiring an additional 51,589 shares during the last quarter.

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.