Sionna Therapeutics (NASDAQ:SION) Stock Price Down 3.5% After Insider Selling

Key Points

• Sionna Therapeutics' stock price declined by 3.5% following insider selling by Director Bruce Booth, who sold a total of 49,546 shares over two transactions.
• Analyst ratings vary with a mix of ratings; Wall Street Zen upgraded the stock to a hold while Royal Bank of Canada set a price objective of $22.00.
• The company's recent earnings report revealed a better-than-expected EPS of ($0.41), surpassing consensus estimates by $0.27.

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report)'s stock price fell 3.5% on Wednesday following insider selling activity. The company traded as low as $27.60 and last traded at $27.60. 133,511 shares traded hands during trading, a decline of 35% from the average session volume of 206,845 shares. The stock had previously closed at $28.61.

Specifically, Director Bruce Booth sold 11,800 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $29.95, for a total value of $353,410.00. Following the completion of the sale, the director directly owned 785,480 shares in the company, valued at approximately $23,525,126. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce Booth sold 37,746 shares of the business's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $30.00, for a total value of $1,132,380.00. Following the sale, the director owned 787,527 shares in the company, valued at $23,625,810. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

SION has been the subject of several research analyst reports. Wall Street Zen raised shares of Sionna Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a research note on Wednesday, September 3rd. They set a "sector perform" rating and a $22.00 price objective for the company. Jones Trading initiated coverage on Sionna Therapeutics in a research report on Monday, September 8th. They issued a "buy" rating and a $46.00 target price on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Sionna Therapeutics in a research note on Saturday, September 27th. Finally, Raymond James Financial started coverage on Sionna Therapeutics in a research report on Tuesday, September 2nd. They set a "strong-buy" rating and a $45.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.00.

Sionna Therapeutics Trading Down 2.8%

The company's fifty day moving average is $23.46 and its 200-day moving average is $17.53.

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

Institutional Trading of Sionna Therapeutics

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

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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