Sionna Therapeutics (NASDAQ:SION) Shares Gap Up After Strong Earnings

Key Points

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• Sionna Therapeutics' stock gapped up to $18.61 after reporting an earnings per share (EPS) of ($0.41), beating the consensus estimate of ($0.68).
• Wall Street Zen downgraded Sionna Therapeutics from a "hold" rating to a "sell" rating on May 22nd.
• Major shareholder TPG GP A LLC acquired 60,000 shares for approximately $950,400, increasing their ownership stake in the company.

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Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report)'s share price gapped up prior to trading on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $17.67, but opened at $18.61. Sionna Therapeutics shares last traded at $17.22, with a volume of 33,965 shares trading hands.

The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.27.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sionna Therapeutics

In other Sionna Therapeutics news, major shareholder Tpg Gp A, Llc bought 60,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was acquired at an average price 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 of the company's stock, valued at approximately $106,840,198.08. This trade represents a 0.90% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Sionna Therapeutics

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in Sionna Therapeutics in the 2nd quarter valued at approximately $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Sionna Therapeutics in the 2nd quarter worth $45,000. Virtus Investment Advisers LLC purchased a new stake in shares of Sionna Therapeutics in the second quarter worth about $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Sionna Therapeutics in the second quarter worth about $117,000. Finally, New York State Common Retirement Fund bought a new position in shares of Sionna Therapeutics in the 2nd quarter valued at about $118,000.

Sionna Therapeutics Stock Down 0.4%

The firm has a 50 day moving average of $18.06.

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.