Insider Selling: Sionna Therapeutics (NASDAQ:SION) Director Sells 11,800 Shares of Stock

Key Points

• On October 6th, Sionna Therapeutics director Bruce Booth sold 11,800 shares of the company at an average price of $29.95, totaling approximately $353,410, reducing his ownership by 1.48%.
• Sionna Therapeutics' stock experienced a 2.2% decline to $28.61 on Tuesday, with shares trading at significantly lower averages compared to their 12-month high of $30.60.
• Analysts have mixed opinions on Sionna Therapeutics, with a consensus rating of "Moderate Buy" and price targets ranging from $22.00 to $46.00 following recent coverage by multiple firms.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) Director Bruce Booth sold 11,800 shares of the business's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $29.95, for a total value of $353,410.00. Following the sale, the director owned 785,480 shares of the company's stock, valued at approximately $23,525,126. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Bruce Booth also recently made the following trade(s):

• On Friday, October 3rd, Bruce Booth sold 37,746 shares of Sionna Therapeutics stock. The stock was sold at an average price of $30.00, for a total transaction of $1,132,380.00.
• On Wednesday, October 1st, Bruce Booth sold 200 shares of Sionna Therapeutics stock. The stock was sold at an average price of $29.95, for a total transaction of $5,990.00.
• On Tuesday, September 30th, Bruce Booth sold 12,388 shares of Sionna Therapeutics stock. The shares were sold at an average price of $30.06, for a total value of $372,383.28.
• On Monday, September 29th, Bruce Booth sold 66,105 shares of Sionna Therapeutics stock. The stock was sold at an average price of $30.09, for a total value of $1,989,099.45.

Sionna Therapeutics Stock Down 2.2%

Shares of NASDAQ SION traded down $0.64 during trading on Tuesday, hitting $28.61. The company had a trading volume of 153,162 shares, compared to its average volume of 207,408. Sionna Therapeutics, Inc. has a 12 month low of $7.26 and a 12 month high of $30.60. The stock has a 50 day simple moving average of $23.25 and a 200 day simple moving average of $17.45.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on SION. 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 target price for the company. Royal Bank Of Canada assumed coverage on shares of Sionna Therapeutics in a research note on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 price objective for the company. Jones Trading began coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They issued a "buy" rating and a $46.00 price target for the company. Wall Street Zen upgraded Sionna Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Sionna Therapeutics in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, 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

Several institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. bought a new position in shares of Sionna Therapeutics during the 1st quarter worth approximately $109,258,000. TPG GP A LLC acquired a new position in Sionna Therapeutics during the 1st quarter valued at about $69,925,000. Atlas Venture Life Science Advisors LLC purchased a new stake in Sionna Therapeutics in the first quarter valued at about $38,639,000. Braidwell LP purchased a new stake in shares of Sionna Therapeutics during the second quarter worth about $18,770,000. Finally, Jennison Associates LLC acquired a new position in shares of Sionna Therapeutics during the first quarter valued at about $8,995,000.

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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