Sionna Therapeutics (NASDAQ:SION) Shares Gap Down - What's Next?

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $16.38, but opened at $16.02. Sionna Therapeutics shares last traded at $15.00, with a volume of 5,755 shares changing hands.

Wall Street Analyst Weigh In

SION has been the topic of a number of recent analyst reports. Guggenheim assumed coverage on Sionna Therapeutics in a research report on Tuesday, March 4th. They issued a "buy" rating and a $45.00 price objective on the stock. Stifel Nicolaus started coverage on Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a "buy" rating and a $32.00 target price on the stock. TD Cowen assumed coverage on Sionna Therapeutics in a research report on Tuesday, March 4th. They set a "buy" rating for the company. Finally, Wall Street Zen lowered Sionna Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Sionna Therapeutics Stock Performance

The company's 50-day simple moving average is $13.16.

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

Hedge Funds Weigh In On Sionna Therapeutics

Several institutional investors have recently modified their holdings of the company. Zimmer Partners LP bought a new stake in Sionna Therapeutics in the 1st quarter worth approximately $2,484,000. Alyeska Investment Group L.P. purchased a new position in shares of Sionna Therapeutics during the first quarter worth approximately $1,948,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Sionna Therapeutics during the first quarter worth approximately $676,000. RA Capital Management L.P. bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth approximately $109,258,000. Finally, Baker BROS. Advisors LP purchased a new stake in shares of Sionna Therapeutics in the 1st quarter valued at $4,184,000.

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.