Sionna Therapeutics (NASDAQ:SION) Shares Down 5.1% on Insider Selling

Key Points

• Sionna Therapeutics shares fell 5.1% to $27.90 following significant insider selling by CEO Michael Cloonan, who sold a total of 25,000 shares recently.
• Despite the recent downturn, analysts remain positive with a consensus rating of "Buy" and a target price of $38.00, with some analysts suggesting targets as high as $46.00.
• The company reported earnings of ($0.41) EPS for the last quarter, exceeding expectations and indicating potential for recovery.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) dropped 5.1% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $27.90 and last traded at $27.90. Approximately 89,270 shares traded hands during trading, a decline of 57% from the average daily volume of 206,964 shares. The stock had previously closed at $29.41.

Specifically, CEO Michael Cloonan sold 7,793 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $29.70, for a total value of $231,452.10. Following the transaction, the chief executive officer owned 547,343 shares in the company, valued at $16,256,087.10. The trade was a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Cloonan sold 17,207 shares of the company's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $28.85, for a total transaction of $496,421.95. Following the completion of the transaction, the chief executive officer owned 547,343 shares in the company, valued at approximately $15,790,845.55. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SION shares. Wall Street Zen upgraded shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Raymond James Financial began coverage on shares of Sionna Therapeutics in a research note on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 price target on the stock. Royal Bank Of Canada began coverage on shares of Sionna Therapeutics in a research note on Wednesday, September 3rd. They set a "sector perform" rating and a $22.00 target price on the stock. Finally, Jones Trading began coverage on shares of Sionna Therapeutics in a research note on Monday, September 8th. They set 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 given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $38.00.

Sionna Therapeutics Stock Down 2.8%

The company's fifty day moving average is $22.47 and its 200-day moving average is $17.01.

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.

Institutional Investors Weigh In On Sionna Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Sionna Therapeutics during the 2nd quarter valued at approximately $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Sionna Therapeutics during the 2nd quarter valued at approximately $45,000. Virtus Investment Advisers LLC purchased a new stake in Sionna Therapeutics during the 2nd quarter valued at approximately $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Sionna Therapeutics during the 2nd quarter valued at approximately $117,000. Finally, New York State Common Retirement Fund purchased a new stake in Sionna Therapeutics during the 2nd quarter valued at approximately $118,000.

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.

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