Sionna Therapeutics (NASDAQ:SION) Shares Up 6.3% - Still a Buy?

Key Points

• Sionna Therapeutics' stock price increased by 6.3% during mid-day trading, reaching a last trading price of $22.98, despite a significant drop in trading volume compared to its average.
• Analysts have differing opinions on Sionna Therapeutics, with recent ratings ranging from a "hold" by Wall Street Zen to a "buy" from Jones Trading with a target price of $46.00, reflecting a general consensus of a "Buy" rating.
• In recent insider activity, CEO Michael Cloonan sold over 7,400 shares while Tpg Gp A, LLC bought 60,000 shares, highlighting mixed insider sentiment towards the company's stock performance.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report)'s stock price shot up 6.3% during mid-day trading on Tuesday . The company traded as high as $22.98 and last traded at $22.98. 57,613 shares were traded during trading, a decline of 71% from the average session volume of 195,979 shares. The stock had previously closed at $21.62.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SION. Wall Street Zen upgraded Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Royal Bank Of Canada started coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They set a "sector perform" rating and a $22.00 target price on the stock. Jones Trading started coverage on Sionna Therapeutics in a report on Monday. They set a "buy" rating and a $46.00 target price on the stock. Finally, Raymond James Financial started coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They set a "strong-buy" rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Sionna Therapeutics presently has an average rating of "Buy" and an average target price of $38.00.

Sionna Therapeutics Price Performance

The firm has a 50 day moving average of $20.69 and a two-hundred day moving average of $15.97.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.27.

Insider Buying and Selling at Sionna Therapeutics

In other Sionna Therapeutics news, CEO Michael Cloonan sold 7,426 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $25.01, for a total transaction of $185,724.26. Following the sale, the chief executive officer directly owned 547,343 shares in the company, valued at approximately $13,689,048.43. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Tpg Gp A, Llc bought 60,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were acquired at an average price of $15.84 per share, for a total transaction of $950,400.00. Following the completion of the purchase, the insider owned 6,744,962 shares in the company, valued at approximately $106,840,198.08. The trade was a 0.90% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 58,000 shares of company stock worth $1,466,671. Insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Sionna Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. bought a new position in shares of Sionna Therapeutics during the 1st quarter valued at $676,000. Jennison Associates LLC bought a new position in shares of Sionna Therapeutics during the 1st quarter valued at $8,995,000. Aberdeen Group plc bought a new position in shares of Sionna Therapeutics during the 1st quarter valued at $7,803,000. CenterBook Partners LP bought a new position in shares of Sionna Therapeutics during the 1st quarter valued at $1,195,000. Finally, TD Asset Management Inc bought a new position in shares of Sionna Therapeutics during the 1st quarter valued at $579,000.

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.

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