Sionna Therapeutics (NASDAQ:SION) Director Ra Capital Management, L.P. Sells 3,448,811 Shares

Key Points

• RA Capital Management sold 3.45 million Sionna Therapeutics shares for approximately $21.8 million at an average price of $6.33, cutting its ownership by 50% to about 3.45 million shares.
• Sionna shares traded at $6.00, near the lower end of their 52-week range of $4.01 to $54.97. The company also reported a quarterly loss of $0.66 per share, slightly worse than analysts expected.
• Analyst sentiment is predominantly cautious: the stock has a consensus “Hold” rating from 13 analysts, with a consensus price target of $42.33, while several firms recently downgraded their ratings.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) Director Ra Capital Management, L.P. sold 3,448,811 shares of Sionna Therapeutics stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $6.33, for a total transaction of $21,830,973.63. Following the sale, the director owned 3,448,812 shares in the company, valued at approximately $21,830,979.96. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sionna Therapeutics Trading Up 0.7%

NASDAQ:SION traded up $0.04 during mid-day trading on Monday, hitting $6.00. The company's stock had a trading volume of 2,522,706 shares, compared to its average volume of 959,961. Sionna Therapeutics, Inc. has a fifty-two week low of $4.01 and a fifty-two week high of $54.97. The company has a market capitalization of $271.26 million, a price-to-earnings ratio of -2.75 and a beta of 0.89. The stock has a fifty day moving average of $22.51 and a 200-day moving average of $33.54.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.02). On average, equities analysts anticipate that Sionna Therapeutics, Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

SION has been the subject of several recent analyst reports. Stifel Nicolaus reiterated a "hold" rating and set a $7.00 price objective on shares of Sionna Therapeutics in a research note on Monday, August 10th. Citigroup downgraded shares of Sionna Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, August 10th. Guggenheim cut shares of Sionna Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, August 10th. Lifesci Capital lowered shares of Sionna Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Sionna Therapeutics in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.33.

Institutional Investors Weigh In On Sionna Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP bought a new position in shares of Sionna Therapeutics in the second quarter worth about $686,000. AXQ Capital LP acquired a new position in shares of Sionna Therapeutics during the second quarter worth approximately $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sionna Therapeutics by 9,056.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,622 shares of the company's stock valued at $467,000 after purchasing an additional 10,506 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Sionna Therapeutics during the second quarter valued at approximately $1,644,000. Finally, Artia Global Partners LP acquired a new stake in shares of Sionna Therapeutics in the second quarter valued at approximately $5,267,000.

Sionna Therapeutics Company Profile

Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disease that affects the lungs and other organs. The company is developing small-molecule therapies designed to address defects in the cystic fibrosis transmembrane conductance regulator (CFTR) protein, which is responsible for transporting salt and fluids across cell membranes.

Sionna's research is centered on nucleotide-binding domain 1 (NBD1) correctors.

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