Sionna Therapeutics (NASDAQ:SION) Cut to "Market Perform" at Raymond James Financial

Key Points

• Raymond James downgraded Sionna Therapeutics from “strong buy” to “market perform,” while analysts remain divided; the stock has a consensus “hold” rating and a $42.22 price target.
• SION shares plunged $46.98 to $4.05 in Monday trading, near their 12-month low of $4.01, on volume far above average.
• The company reported a quarterly loss of $0.66 per share, slightly worse than analysts’ expected $0.64 loss, while insiders have sold approximately $18.3 million of stock over the past 90 days.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) was downgraded by research analysts at Raymond James Financial from a "strong-buy" rating to a "market perform" rating in a research note issued on Monday.

Several other equities research analysts have also issued reports on the stock. BTIG Research reaffirmed a "buy" rating and set a $58.00 price target on shares of Sionna Therapeutics in a report on Wednesday, May 13th. Wedbush reaffirmed a "neutral" rating and set a $5.00 target price on shares of Sionna Therapeutics in a research note on Monday. Guggenheim upped their price target on shares of Sionna Therapeutics from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank Of Canada raised Sionna Therapeutics from an "underperform" rating to a "sector perform" rating and set a $5.00 price objective on the stock in a report on Monday. Finally, Wall Street Zen lowered Sionna Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $42.22.

Sionna Therapeutics Price Performance

Shares of SION stock traded down $46.98 on Monday, hitting $4.05. 23,315,454 shares of the company's stock were exchanged, compared to its average volume of 548,288. The company has a 50 day moving average of $42.35 and a 200 day moving average of $40.42. The stock has a market cap of $183.33 million, a P/E ratio of -1.88 and a beta of 1.32. Sionna Therapeutics has a 12 month low of $4.01 and a 12 month high of $54.97.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.02). Sell-side analysts predict that Sionna Therapeutics will post -2.63 EPS for the current fiscal year.

Insider Activity

In other Sionna Therapeutics news, Director Orbimed Advisors Llc sold 115,844 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $45.50, for a total value of $5,270,902.00. Following the sale, the director owned 2,555,877 shares in the company, valued at approximately $116,292,403.50. The trade was a 4.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter A. Thompson sold 115,844 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $45.50, for a total value of $5,270,902.00. Following the completion of the sale, the director directly owned 2,555,877 shares of the company's stock, valued at approximately $116,292,403.50. The trade was a 4.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 403,726 shares of company stock worth $18,259,354 over the last ninety days. Company insiders own 5.10% of the company's stock.

Institutional Investors Weigh In On Sionna Therapeutics

A number of institutional investors have recently modified their holdings of the company. Viking Global Investors LP increased its position in shares of Sionna Therapeutics by 8.2% during the second 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. BlackRock Inc. bought a new stake in Sionna Therapeutics during the second quarter valued at $64,875,000. Jennison Associates LLC grew its holdings in Sionna Therapeutics by 30.1% during the 1st quarter. Jennison Associates LLC now owns 1,451,220 shares of the company's stock worth $58,179,000 after acquiring an additional 335,942 shares during the period. Vanguard Group Inc. raised its position in shares of Sionna Therapeutics by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,184,951 shares of the company's stock worth $48,749,000 after acquiring an additional 41,797 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Sionna Therapeutics by 30.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 831,373 shares of the company's stock worth $34,203,000 after acquiring an additional 193,613 shares in the last quarter.

Sionna Therapeutics Company Profile

Sionna Therapeutics is a clinical-stage biotechnology company dedicated to developing next-generation RNA therapeutics for oncology and immunology indications. Leveraging proprietary lipid nanoparticle and coacervate delivery technologies, the company aims to overcome key challenges associated with stability, targeting and immune activation that have historically limited the clinical performance of mRNA-based medicines. Its strategic focus spans both solid tumors and hematological malignancies, as well as selected autoimmune disorders, reflecting a broad ambition to harness the power of messenger RNA in diverse therapeutic areas.

At the heart of Sionna’s approach is a platform that combines optimized ionizable lipids with bespoke surface chemistries to enhance payload delivery, intracellular release and endosomal escape.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source