Sionna Therapeutics (NASDAQ:SION) Coverage Initiated by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada initiated coverage on Sionna Therapeutics with a "sector perform" rating and a price target of $22.00, indicating a potential downside of 13.35% from the stock's previous close.
• Raymond James Financial rated the stock as a "strong-buy" with a significantly higher price target of $45.00, reflecting mixed analyst sentiment with a consensus rating of "Buy."
• Insider activity includes a major shareholder acquiring 60,000 shares at $15.84 per share, while the CFO sold 16,098 shares at $25.97 each, signifying significant trading interest by insiders.

Analysts at Royal Bank Of Canada started coverage on shares of Sionna Therapeutics (NASDAQ:SION - Get Free Report) in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a "sector perform" rating and a $22.00 price target on the stock. Royal Bank Of Canada's price target would indicate a potential downside of 13.35% from the company's previous close.

A number of other equities research analysts also recently weighed in on the company. Raymond James Financial assumed coverage on Sionna Therapeutics in a research report on Tuesday. They set a "strong-buy" rating and a $45.00 price target on the stock. Wall Street Zen raised Sionna Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $36.00.

Sionna Therapeutics Trading Up 3.1%

Shares of SION stock opened at $25.39 on Wednesday. Sionna Therapeutics has a 52-week low of $7.26 and a 52-week high of $26.50. The business's fifty day moving average is $20.08 and its 200 day moving average is $15.82.

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

Insider Activity

In other news, major shareholder Tpg Gp A, Llc acquired 60,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was bought at an average cost of $15.84 per share, for a total transaction of $950,400.00. Following the acquisition, the insider directly owned 6,744,962 shares in the company, valued at approximately $106,840,198.08. The trade was a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $418,065.06. Following the completion of the transaction, the chief financial officer owned 48,116 shares of the company's stock, valued at approximately $1,249,572.52. The trade was a 25.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,416 shares of company stock worth $1,226,229. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Sionna Therapeutics

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

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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