Sionna Therapeutics, Inc. (NASDAQ:SION) Given Average Recommendation of "Buy" by Analysts

Key Points

• Sionna Therapeutics, Inc. (NASDAQ:SION) has received an average recommendation of "Buy" from five analysts, with a consensus price target of $36.00.
• CFO Elena Ridloff sold 16,098 shares at $25.97, reducing her ownership by 25.07%, while major shareholder Tpg Gp A LLC bought 60,000 shares at $15.84, increasing their stake by 0.90%.
• Sionna Therapeutics reported earnings of ($0.41) per share for the quarter, surpassing consensus estimates of ($0.68).

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) has been given a consensus recommendation of "Buy" by the five analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $36.00.

SION has been the subject of several recent analyst reports. Wall Street Zen raised Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Royal Bank Of Canada initiated coverage on Sionna Therapeutics in a report on Wednesday. They set a "sector perform" rating and a $22.00 price objective for the company. Finally, Raymond James Financial initiated coverage on Sionna Therapeutics in a report on Tuesday. They set a "strong-buy" rating and a $45.00 price objective for the company.

Insider Buying and Selling

In related news, CFO Elena Ridloff sold 16,098 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $25.97, for a total value of $418,065.06. Following the completion of the sale, the chief financial officer owned 48,116 shares in the company, valued at $1,249,572.52. The trade was a 25.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Tpg Gp A, Llc bought 60,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average price of $15.84 per share, with a total value of $950,400.00. Following the transaction, the insider directly owned 6,744,962 shares in the company, valued at $106,840,198.08. The trade was a 0.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 48,416 shares of company stock worth $1,226,229 in the last quarter. 3.90% of the stock is owned by insiders.

Institutional Trading of Sionna Therapeutics

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

Sionna Therapeutics Stock Up 4.0%

SION stock traded up $1.02 during mid-day trading on Wednesday, reaching $26.41. 17,462 shares of the company traded hands, compared to its average volume of 189,282. Sionna Therapeutics has a 52-week low of $7.26 and a 52-week high of $26.50. The company has a fifty day moving average price of $20.08 and a 200-day moving average price of $15.82.

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

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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