Sionna Therapeutics, Inc.'s Lock-Up Period To Expire on August 6th (NASDAQ:SION)

Key Points

• The **lock-up period** for Sionna Therapeutics, Inc. will expire on **August 6th**, allowing major shareholders and insiders to sell their shares.
• Sionna Therapeutics has been downgraded from a "hold" to a "**sell**" rating by Wall Street Zen as of May 22nd.
• Shares opened at **$18.33** with a one-year price range of **$7.26 to $25.19**, and the company reported a quarterly loss of **($0.62)** EPS, missing estimates by **($0.17)**.

Sionna Therapeutics' (NASDAQ:SION - Get Free Report) lock-up period will end on Wednesday, August 6th. Sionna Therapeutics had issued 10,588,233 shares in its public offering on February 7th. The total size of the offering was $190,588,194 based on an initial share price of $18.00. After the end of the company's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

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

Sionna Therapeutics Price Performance

Shares of Sionna Therapeutics stock opened at $18.33 on Wednesday. Sionna Therapeutics has a one year low of $7.26 and a one year high of $25.19. The company has a 50-day moving average price of $16.90.

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

Insider Activity at Sionna Therapeutics

In other Sionna Therapeutics news, major shareholder Tpg Gp A, Llc bought 60,000 shares of the stock in a transaction dated Friday, June 27th. The shares were bought at an average cost of $15.84 per share, for a total transaction of $950,400.00. Following the purchase, the insider directly owned 6,744,962 shares of the company's stock, valued at approximately $106,840,198.08. This trade represents a 0.90% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sionna Therapeutics

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.