Sionna Therapeutics (NASDAQ:SION) Announces Earnings Results

Key Points

• Sionna Therapeutics reported earnings of ($0.41) per share, beating analysts' expectations of ($0.68) by $0.27.
• Major shareholder Tpg Gp A, Llc increased their position by purchasing 60,000 shares at an average cost of $15.84 each, bringing their total ownership to approximately $106.8 million.
• Wall Street Zen downgraded Sionna Therapeutics from a "hold" to a "sell" rating in a research note released on May 22nd.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) announced its earnings results on Monday. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.68) by $0.27, Zacks reports.

Sionna Therapeutics Stock Performance

Shares of NASDAQ SION remained flat at $20.91 during midday trading on Thursday. 172,270 shares of the stock were exchanged, compared to its average volume of 189,406. Sionna Therapeutics has a 1-year low of $7.26 and a 1-year high of $25.19. The company has a 50-day moving average price of $17.89.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Sionna Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Insider Activity at Sionna Therapeutics

In other news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the stock in a transaction dated Friday, June 27th. The stock was acquired 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 in the company, valued at $106,840,198.08. This represents a 0.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sionna Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Sionna Therapeutics by 113.4% in the second quarter. Geode Capital Management LLC now owns 289,275 shares of the company's stock valued at $5,020,000 after purchasing an additional 153,712 shares during the period. Woodline Partners LP purchased a new stake in Sionna Therapeutics in the first quarter valued at approximately $837,000. Goldman Sachs Group Inc. purchased a new stake in Sionna Therapeutics in the first quarter valued at approximately $667,000. The Manufacturers Life Insurance Company grew its holdings in Sionna Therapeutics by 13.4% in the second quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company's stock valued at $660,000 after purchasing an additional 4,489 shares during the period. Finally, Rhumbline Advisers purchased a new stake in Sionna Therapeutics in the second quarter valued at approximately $307,000.

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.