Sionna Therapeutics (NASDAQ:SION) Director Bruce Booth Sells 66,105 Shares

Key Points

• Sionna Therapeutics Director Bruce Booth sold 66,105 shares of the company's stock on September 29th for approximately $1.99 million, reducing his stake by 7.67%.
• The stock experienced a price decrease, trading at $28.47 after a decline of $0.94, and has a one-year trading range of $7.26 to $30.60.
• Analysts have a favorable outlook on Sionna Therapeutics, with an average rating of "Buy" and an average price target of $38.00.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) Director Bruce Booth sold 66,105 shares of the business's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $30.09, for a total value of $1,989,099.45. Following the completion of the sale, the director owned 796,259 shares in the company, valued at $23,959,433.31. This represents a 7.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Bruce Booth also recently made the following trade(s):

• On Wednesday, October 1st, Bruce Booth sold 200 shares of Sionna Therapeutics stock. The shares were sold at an average price of $29.95, for a total value of $5,990.00.
• On Tuesday, September 30th, Bruce Booth sold 12,388 shares of Sionna Therapeutics stock. The shares were sold at an average price of $30.06, for a total value of $372,383.28.

Sionna Therapeutics Price Performance

Shares of SION stock traded down $0.94 on Wednesday, hitting $28.47. The stock had a trading volume of 204,489 shares, compared to its average volume of 207,684. Sionna Therapeutics, Inc. has a 1 year low of $7.26 and a 1 year high of $30.60. The company's 50 day moving average price is $22.47 and its 200-day moving average price is $17.01.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SION. Wall Street Zen upgraded shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Jones Trading initiated coverage on Sionna Therapeutics in a research note on Monday, September 8th. They set a "buy" rating and a $46.00 target price for the company. Raymond James Financial initiated coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 price target for the company. Finally, Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a research note on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Sionna Therapeutics presently has an average rating of "Buy" and an average price target of $38.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Siren L.L.C. purchased a new position in Sionna Therapeutics during the 1st quarter worth approximately $3,400,000. Zimmer Partners LP purchased a new position in Sionna Therapeutics during the 1st quarter worth approximately $2,484,000. Goldman Sachs Group Inc. purchased a new position in Sionna Therapeutics during the 1st quarter worth approximately $667,000. Alyeska Investment Group L.P. purchased a new position in Sionna Therapeutics during the 1st quarter worth approximately $1,948,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Sionna Therapeutics during the 1st quarter worth approximately $676,000.

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.

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