Sionna Therapeutics, Inc. (NASDAQ:SION) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Sionna Therapeutics, Inc. has received a consensus rating of "Buy" from six research firms, with an average 12-month price target of $38.00.
• Insider selling includes CFO Elena Ridloff and CEO Michael Cloonan, who sold shares at prices of approximately $25.97 and $24.96, respectively, indicating a decline in their holdings.
• The company's stock has shown significant volatility, trading between a 52-week low of $7.26 and a high of $29.02.

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) have received a consensus recommendation of "Buy" from the six research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $38.00.

Several analysts recently commented on the company. Raymond James Financial assumed coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 price objective for the company. Wall Street Zen upgraded Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Jones Trading assumed coverage on shares of Sionna Therapeutics in a research report on Monday, September 8th. They set a "buy" rating and a $46.00 price target on the stock. Finally, Royal Bank Of Canada started coverage on Sionna Therapeutics in a research report on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 target price on the stock.

Insiders Place Their Bets

In other news, CFO Elena Ridloff sold 16,098 shares of Sionna Therapeutics stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $25.97, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cloonan sold 17,574 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $24.96, for a total transaction of $438,647.04. Following the completion of the sale, the chief executive officer directly owned 547,343 shares of the company's stock, valued at approximately $13,661,681.28. The trade was a 3.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,000 shares of company stock worth $1,466,671 in the last quarter. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Sionna Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Sionna Therapeutics in the second quarter worth $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Sionna Therapeutics during the 2nd quarter valued at about $45,000. Virtus Investment Advisers LLC acquired a new position in Sionna Therapeutics in the 2nd quarter worth about $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Sionna Therapeutics during the second quarter valued at approximately $117,000. Finally, New York State Common Retirement Fund purchased a new position in Sionna Therapeutics in the second quarter worth approximately $118,000.

Sionna Therapeutics Trading Up 5.2%

Shares of SION stock opened at $28.94 on Friday. Sionna Therapeutics has a fifty-two week low of $7.26 and a fifty-two week high of $29.02. The stock has a 50 day simple moving average of $22.02 and a two-hundred day simple moving average of $16.82.

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