Sionna Therapeutics (NASDAQ:SION) Reaches New 12-Month High - Should You Buy?

Key Points

• Sionna Therapeutics' stock has reached a new 52-week high of $26.85, with a current trading price of $26.04 and a notable trading volume of 47,613 shares.
• Analysts have varying ratings for the stock, with a consensus average rating of "Buy" and a price target of $38.00, indicating significant growth potential.
• Insider activity includes a sale of 17,574 shares by CEO Michael Cloonan, while major shareholder Tpg Gp A, Llc, increased their stake by purchasing 60,000 shares.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.85 and last traded at $26.04, with a volume of 47613 shares traded. The stock had previously closed at $25.89.

Wall Street Analyst Weigh In

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

Sionna Therapeutics Price Performance

The firm's 50 day simple moving average is $21.26 and its 200-day simple moving average is $16.51.

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, topping analysts' consensus estimates of ($0.68) by $0.27.

Insider Buying and Selling at Sionna Therapeutics

In other news, CEO Michael Cloonan sold 17,574 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $24.96, for a total transaction of $438,647.04. Following the transaction, the chief executive officer directly owned 547,343 shares of the company's stock, valued at approximately $13,661,681.28. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the business'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 completion of the acquisition, the insider directly owned 6,744,962 shares of the company's stock, valued at $106,840,198.08. This represents a 0.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 58,000 shares of company stock valued at $1,466,671 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Sionna Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SION. BNP Paribas Financial Markets acquired a new position in Sionna Therapeutics during the second quarter valued at $31,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Sionna Therapeutics in the second quarter valued at about $45,000. The Manufacturers Life Insurance Company boosted its stake in shares of Sionna Therapeutics by 13.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company's stock worth $660,000 after acquiring an additional 4,489 shares in the last quarter. Virtus Investment Advisers LLC bought a new stake in shares of Sionna Therapeutics during the 2nd quarter worth about $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Sionna Therapeutics during the 2nd quarter worth about $117,000.

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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