Sionna Therapeutics, Inc. (NASDAQ:SION) Major Shareholder Buys $950,400.00 in Stock

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) major shareholder Tpg Gp A, Llc purchased 60,000 shares of Sionna Therapeutics stock in a transaction that occurred on Friday, June 27th. The stock was acquired at an average cost of $15.84 per share, with a total value of $950,400.00. Following the acquisition, the insider directly owned 6,744,962 shares of the company's stock, valued at $106,840,198.08. The trade was a 0.90% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Sionna Therapeutics Price Performance

Shares of Sionna Therapeutics stock traded up $0.32 during midday trading on Friday, reaching $21.19. The company had a trading volume of 122,736 shares, compared to its average volume of 252,476. The company's fifty day moving average is $14.51. Sionna Therapeutics, Inc. has a 1-year low of $7.26 and a 1-year high of $25.19.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.17).

Institutional Trading of Sionna Therapeutics

A number of institutional investors have recently modified their holdings of SION. TD Asset Management Inc bought a new position in shares of Sionna Therapeutics during the first quarter worth about $579,000. Goldman Sachs Group Inc. purchased a new position in Sionna Therapeutics in the first quarter worth $667,000. Charles Schwab Investment Management Inc. purchased a new position in Sionna Therapeutics in the first quarter valued at about $676,000. Woodline Partners LP bought a new stake in Sionna Therapeutics in the 1st quarter valued at about $837,000. Finally, CenterBook Partners LP purchased a new position in Sionna Therapeutics in the 1st quarter valued at approximately $1,195,000.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Sionna Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

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.