Sionna Therapeutics (NASDAQ:SION) Shares Gap Down - Here's Why

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $20.93, but opened at $19.95. Sionna Therapeutics shares last traded at $20.50, with a volume of 582 shares changing hands.

Wall Street Analysts Forecast Growth

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

Sionna Therapeutics Stock Down 2.4%

The business's fifty day moving average price is $15.54.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.17).

Insider Activity at Sionna Therapeutics

In other Sionna Therapeutics news, major shareholder Tpg Gp A, Llc acquired 60,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $15.84 per share, with a total value of $950,400.00. Following the completion of the acquisition, the insider owned 6,744,962 shares of the company's stock, valued at $106,840,198.08. This trade represents a 0.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.90% of the company's stock.

Institutional Trading of Sionna Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new position in shares of Sionna Therapeutics during the first quarter worth approximately $667,000. Siren L.L.C. bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth approximately $3,400,000. Woodline Partners LP bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth approximately $837,000. Zimmer Partners LP bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth approximately $2,484,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth approximately $1,948,000.

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.