Sionna Therapeutics (NASDAQ:SION) Announces Earnings Results, Beats Expectations By $0.27 EPS

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) posted its quarterly earnings results on Monday. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.27, Zacks reports.

Sionna Therapeutics Stock Performance

Shares of SION stock remained flat at $20.91 on Friday. The stock had a trading volume of 121,387 shares, compared to its average volume of 188,804. Sionna Therapeutics has a one year low of $7.26 and a one year high of $25.19. The stock's 50 day moving average price is $17.99.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered 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 related news, major shareholder Tpg Gp A, Llc acquired 60,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were bought at an average cost of $15.84 per share, with a total value of $950,400.00. Following the completion of the purchase, the insider directly owned 6,744,962 shares in the company, valued at $106,840,198.08. The trade was a 0.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.90% of the company's stock.

Institutional Trading of Sionna Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SION. BNP Paribas Financial Markets purchased a new position in shares of Sionna Therapeutics in the 2nd quarter valued at approximately $31,000. Ameriprise Financial Inc. increased its position in shares of Sionna Therapeutics by 13.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 236,813 shares of the company's stock valued at $4,109,000 after acquiring an additional 27,547 shares during the period. Viking Global Investors LP grew its position 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 purchasing an additional 242,427 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Sionna Therapeutics during the 2nd quarter worth about $117,000. Finally, 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.

About Sionna Therapeutics

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.