Sionna Therapeutics (NASDAQ:SION) CEO Sells $459,650.25 in Stock

Key Points

• CEO Michael Cloonan of Sionna Therapeutics sold 14,775 shares for approximately $459,650, reducing his ownership by 2.63% to 547,343 shares valued at over $17 million.
• Sionna Therapeutics' stock price dropped to $31.93, having a 50-day moving average of $25.23 and a 200-day moving average of $18.36.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Sionna Therapeutics, with target prices ranging from $22.00 to $46.00.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) CEO Michael Cloonan sold 14,775 shares of the company's stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $31.11, for a total transaction of $459,650.25. Following the sale, the chief executive officer owned 547,343 shares of the company's stock, valued at $17,027,840.73. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael Cloonan also recently made the following trade(s):

• On Thursday, October 16th, Michael Cloonan sold 10,425 shares of Sionna Therapeutics stock. The shares were sold at an average price of $31.51, for a total transaction of $328,491.75.
• On Monday, September 29th, Michael Cloonan sold 7,793 shares of Sionna Therapeutics stock. The shares were sold at an average price of $29.70, for a total value of $231,452.10.
• On Friday, September 26th, Michael Cloonan sold 17,207 shares of Sionna Therapeutics stock. The shares were sold at an average price of $28.85, for a total value of $496,421.95.
• On Tuesday, August 26th, Michael Cloonan sold 17,574 shares of Sionna Therapeutics stock. The stock was sold at an average price of $24.96, for a total value of $438,647.04.
• On Wednesday, August 27th, Michael Cloonan sold 7,426 shares of Sionna Therapeutics stock. The stock was sold at an average price of $25.01, for a total value of $185,724.26.

Sionna Therapeutics Price Performance

Shares of Sionna Therapeutics stock traded down $0.79 during midday trading on Friday, reaching $31.93. 277,728 shares of the company's stock traded hands, compared to its average volume of 215,860. The stock has a 50 day moving average of $25.23 and a 200-day moving average of $18.36. Sionna Therapeutics, Inc. has a 12 month low of $7.26 and a 12 month high of $34.00.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.27.

Institutional Trading of Sionna Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. purchased a new position in shares of Sionna Therapeutics in the first quarter worth $109,258,000. TPG GP A LLC purchased a new position in Sionna Therapeutics in the 1st quarter worth about $69,925,000. Atlas Venture Life Science Advisors LLC bought a new position in Sionna Therapeutics during the 1st quarter valued at about $38,639,000. Viking Global Investors LP boosted its holdings in shares of Sionna Therapeutics by 8.2% during the 2nd quarter. Viking Global Investors LP now owns 3,195,181 shares of the company's stock valued at $55,436,000 after acquiring an additional 242,427 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Sionna Therapeutics by 2.4% in the second quarter. JPMorgan Chase & Co. now owns 2,221,188 shares of the company's stock worth $38,538,000 after acquiring an additional 51,589 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SION shares. Jones Trading assumed coverage on Sionna Therapeutics in a report on Monday, September 8th. They set a "buy" rating and a $46.00 target price on the stock. Royal Bank Of Canada assumed coverage on Sionna Therapeutics in a research report on Wednesday, September 3rd. They set a "sector perform" rating and a $22.00 price target on the stock. Wall Street Zen upgraded Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Raymond James Financial assumed coverage on shares of Sionna Therapeutics in a report on Tuesday, September 2nd. They set a "strong-buy" rating and a $45.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Sionna Therapeutics in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

About Sionna Therapeutics

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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