Sionna Therapeutics (NASDAQ:SION) Coverage Initiated at Jones Trading

Key Points

• Jones Trading has initiated coverage on Sionna Therapeutics, setting a "buy" rating and a price target of $46.00, suggesting a potential upside of 102.55% from the previous close.
• Sionna Therapeutics stock has experienced a 5.4% decline, trading at $22.71, despite reporting better-than-expected quarterly earnings.
• Recent insider transactions include significant purchases and sales, with CEO Michael Cloonan selling 7,426 shares at an average price of $25.01.

Jones Trading initiated coverage on shares of Sionna Therapeutics (NASDAQ:SION - Get Free Report) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set a "buy" rating and a $46.00 price target on the stock. Jones Trading's target price points to a potential upside of 101.49% from the company's previous close.

Several other research firms have also issued reports on SION. Raymond James Financial initiated coverage on shares of Sionna Therapeutics in a report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 target price for the company. Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 target price for the company. Finally, Wall Street Zen raised shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Sionna Therapeutics currently has an average rating of "Buy" and a consensus price target of $38.00.

Sionna Therapeutics Trading Down 4.1%

Sionna Therapeutics stock traded down $0.97 during midday trading on Monday, hitting $22.83. The stock had a trading volume of 180,272 shares, compared to its average volume of 253,008. The firm's fifty day moving average is $20.95 and its two-hundred day moving average is $16.15. Sionna Therapeutics has a 52-week low of $7.26 and a 52-week high of $26.50.

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

Insider Buying and Selling at Sionna Therapeutics

In other Sionna Therapeutics news, CEO Michael Cloonan sold 7,426 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $25.01, for a total transaction of $185,724.26. Following the completion of the sale, the chief executive officer directly owned 547,343 shares of the company's stock, valued at $13,689,048.43. This trade represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Elena Ridloff sold 8,836 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $25.08, for a total transaction of $221,606.88. Following the sale, the chief financial officer directly owned 38,532 shares of the company's stock, valued at approximately $966,382.56. This trade represents a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,000 shares of company stock valued at $1,466,671 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in Sionna Therapeutics in the second quarter worth $31,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth about $45,000. Virtus Investment Advisers LLC bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth about $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Sionna Therapeutics during the 2nd quarter valued at about $117,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Sionna Therapeutics during the 2nd quarter valued at about $118,000.

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.