Sionna Therapeutics (NASDAQ:SION) Stock Price Down 6% - Should You Sell?

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report)'s share price fell 6% during mid-day trading on Friday . The company traded as low as $13.26 and last traded at $13.26. 2,863 shares traded hands during trading, a decline of 98% from the average session volume of 185,281 shares. The stock had previously closed at $14.11.

Wall Street Analysts Forecast Growth

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

Sionna Therapeutics Price Performance

The company's 50-day moving average is $11.78.

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

Hedge Funds Weigh In On Sionna Therapeutics

Several large investors have recently modified their holdings of SION. TD Asset Management Inc acquired a new stake in shares of Sionna Therapeutics during the first quarter worth $579,000. Goldman Sachs Group Inc. bought a new position in shares of Sionna Therapeutics in the 1st quarter valued at $667,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Sionna Therapeutics during the 1st quarter worth $676,000. Woodline Partners LP bought a new position in Sionna Therapeutics in the first quarter valued at about $837,000. Finally, CenterBook Partners LP acquired a new stake in shares of Sionna Therapeutics in the 1st quarter valued at approximately $1,195,000.

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.