Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) shares gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $12.90, but opened at $12.43. Sionna Therapeutics shares last traded at $12.43, with a volume of 779 shares.
The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.17).
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. TD Cowen started coverage on Sionna Therapeutics in a report on Tuesday, March 4th. They issued a "buy" rating for the company. Stifel Nicolaus initiated coverage on Sionna Therapeutics in a research note on Tuesday, March 4th. They set a "buy" rating and a $32.00 price objective on the stock. Finally, Guggenheim initiated coverage on Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a "buy" rating and a $45.00 target price on the stock.
View Our Latest Stock Report on SION
Institutional Investors Weigh In On Sionna Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. acquired a new position in shares of Sionna Therapeutics during the first quarter worth approximately $1,948,000. Charles Schwab Investment Management Inc. bought a new position in Sionna Therapeutics in the first quarter valued at about $676,000. RA Capital Management L.P. acquired a new position in Sionna Therapeutics in the first quarter valued at about $109,258,000. Baker BROS. Advisors LP acquired a new position in Sionna Therapeutics in the first quarter valued at about $4,184,000. Finally, TPG GP A LLC acquired a new stake in shares of Sionna Therapeutics during the first quarter worth about $69,925,000.
Sionna Therapeutics Stock Up 2.8%
The firm has a 50-day moving average price of $12.01.
About Sionna Therapeutics
(
Get Free Report)
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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