Sionna Therapeutics (NASDAQ:SION) Reaches New 1-Year High - Should You Buy?

Key Points

• Sionna Therapeutics shares reached a new 52-week high of $29.10, with a consensus rating of "Buy" and a target price of $38.00 from analysts.
• Institutional investors have shown significant interest, with major funds acquiring positions worth over $109 million during the first quarter.
• Insider activity includes recent sells by CEO Michael Cloonan and CFO Elena Ridloff, raising concerns about potential confidence amidst a strong stock performance.

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $29.10 and last traded at $29.10, with a volume of 2833 shares traded. The stock had previously closed at $28.94.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SION. Royal Bank Of Canada initiated coverage on Sionna Therapeutics in a research report on Wednesday, September 3rd. They set a "sector perform" rating and a $22.00 price objective on the stock. Raymond James Financial assumed coverage on Sionna Therapeutics in a research note on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 price objective 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. Finally, Jones Trading started coverage on Sionna Therapeutics in a research note on Monday, September 8th. They issued a "buy" rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Sionna Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $38.00.

Sionna Therapeutics Trading Up 3.3%

The stock has a fifty day moving average of $22.02 and a 200-day moving average of $16.82.

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

Insiders Place Their Bets

In other Sionna Therapeutics news, CEO Michael Cloonan sold 17,574 shares of Sionna Therapeutics stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $24.96, for a total value of $438,647.04. Following the completion of the transaction, the chief executive officer directly owned 547,343 shares of the company's stock, valued at $13,661,681.28. The trade was a 3.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Ridloff sold 16,098 shares of Sionna Therapeutics stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $25.97, for a total value of $418,065.06. Following the completion of the transaction, the chief financial officer owned 48,116 shares in the company, valued at approximately $1,249,572.52. The trade was a 25.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,000 shares of company stock worth $1,466,671. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Sionna Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. acquired a new position in Sionna Therapeutics during the 1st quarter worth about $109,258,000. TPG GP A LLC acquired a new position in Sionna Therapeutics during the 1st quarter worth approximately $69,925,000. Atlas Venture Life Science Advisors LLC acquired a new position in Sionna Therapeutics during the 1st quarter worth approximately $38,639,000. Viking Global Investors LP raised its stake in Sionna Therapeutics by 8.2% during 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. increased its holdings in Sionna Therapeutics by 2.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,221,188 shares of the company's stock worth $38,538,000 after purchasing an additional 51,589 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.