Sionna Therapeutics (NASDAQ:SION) Trading 6.3% Higher - Here's What Happened

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 rose 6.3% on Tuesday . The company traded as high as $22.98 and last traded at $22.98. Approximately 57,613 shares traded hands during trading, a decline of 71% from the average daily volume of 195,979 shares. The stock had previously closed at $21.62.

Analyst Ratings Changes

SION has been the subject of a number of recent research reports. Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a research report on Wednesday, September 3rd. They issued a "sector perform" rating and a $22.00 target price for the company. Jones Trading initiated coverage on shares of Sionna Therapeutics in a research note on Monday, September 8th. They set a "buy" rating and a $46.00 target price for the company. Raymond James Financial initiated coverage on shares of Sionna Therapeutics in a research note on Tuesday, September 2nd. They issued a "strong-buy" rating and a $45.00 price objective for the company. Finally, Wall Street Zen raised shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $38.00.

Sionna Therapeutics Price Performance

The business's 50-day moving average is $20.95 and its two-hundred day moving average is $16.16.

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

Insider Transactions at Sionna Therapeutics

In other news, CEO Michael Cloonan sold 17,574 shares of Sionna Therapeutics stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $24.96, for a total transaction of $438,647.04. Following the completion of the transaction, the chief executive officer owned 547,343 shares of the company's stock, valued at $13,661,681.28. The trade was a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the business's stock in a transaction dated Friday, June 27th. The shares were purchased at an average cost of $15.84 per share, with a total value of $950,400.00. Following the purchase, the insider directly owned 6,744,962 shares in the company, valued at approximately $106,840,198.08. The trade was a 0.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 58,000 shares of company stock valued at $1,466,671 in the last 90 days. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. acquired a new stake in Sionna Therapeutics during the 1st quarter worth approximately $109,258,000. TPG GP A LLC purchased a new position in Sionna Therapeutics in the 1st quarter worth approximately $69,925,000. Atlas Venture Life Science Advisors LLC purchased a new position in Sionna Therapeutics in the 1st quarter worth approximately $38,639,000. Braidwell LP purchased a new position in Sionna Therapeutics in the 2nd quarter worth approximately $18,770,000. Finally, Jennison Associates LLC purchased a new position in Sionna Therapeutics in the 1st quarter worth approximately $8,995,000.

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.