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

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $14.48, but opened at $15.00. Sionna Therapeutics shares last traded at $14.88, with a volume of 6,051 shares traded.

Analyst Ratings Changes

Several research analysts have issued reports on the company. TD Cowen assumed coverage on Sionna Therapeutics in a research report on Tuesday, March 4th. They set a "buy" rating for the company. Stifel Nicolaus began coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a "buy" rating and a $32.00 price objective for the company. Guggenheim started coverage on shares of Sionna Therapeutics in a report on Tuesday, March 4th. They issued a "buy" rating and a $45.00 price target on the stock. Finally, Wall Street Zen cut Sionna Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Sionna Therapeutics Trading Up 7.4%

The company's fifty day moving average is $12.17.

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

Hedge Funds Weigh In On Sionna Therapeutics

A number of hedge funds have recently made changes to their positions in the company. TD Asset Management Inc acquired a new stake in shares of Sionna Therapeutics in the first quarter valued at about $579,000. Goldman Sachs Group Inc. purchased a new stake in Sionna Therapeutics in the first quarter valued at approximately $667,000. Charles Schwab Investment Management Inc. purchased a new position in Sionna Therapeutics during the 1st quarter valued at about $676,000. Woodline Partners LP acquired a new position in shares of Sionna Therapeutics in the first quarter valued at approximately $837,000. Finally, CenterBook Partners LP purchased a new stake in shares of Sionna Therapeutics during the first quarter worth $1,195,000.

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.