Sionna Therapeutics (NASDAQ:SION) Stock Price Up 11.1% - Still a Buy?

Key Points

• Sionna Therapeutics shares increased by 11.1% to $25.72, with trading volume considerably lower than average at 103,334 shares.
• Analysts have a consensus Buy rating on the stock, with price targets from various firms ranging from $22.00 to $46.00.
• CEO Michael Cloonan recently sold over 7,400 shares at approximately $25.01 each, while significant purchases were made by institutional investors in the second quarter.

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) rose 11.1% on Monday . The company traded as high as $25.93 and last traded at $25.72. Approximately 103,334 shares traded hands during trading, a decline of 49% from the average daily volume of 200,977 shares. The stock had previously closed at $23.14.

Wall Street Analyst Weigh In

SION has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on Sionna Therapeutics in a research report on Tuesday, September 2nd. They set a "strong-buy" rating and a $45.00 price objective on the stock. Wall Street Zen raised Sionna Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Jones Trading initiated coverage on Sionna Therapeutics in a research report on Monday, September 8th. They set a "buy" rating and a $46.00 price objective on the stock. Finally, Royal Bank Of Canada began coverage on Sionna Therapeutics in a research report on Wednesday, September 3rd. They set a "sector perform" rating and a $22.00 price objective on the stock. One 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. Based on data from MarketBeat, Sionna Therapeutics has a consensus rating of "Buy" and an average price target of $38.00.

Sionna Therapeutics Trading Up 11.9%

The firm has a 50-day moving average of $21.14 and a two-hundred day moving average of $16.44.

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

Insider Transactions at Sionna Therapeutics

In other news, CEO Michael Cloonan sold 7,426 shares of Sionna Therapeutics stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $25.01, for a total value of $185,724.26. Following the sale, the chief executive officer directly owned 547,343 shares of the company's stock, valued at $13,689,048.43. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the stock in a transaction dated Friday, June 27th. The stock was purchased at an average cost of $15.84 per share, for a total transaction of $950,400.00. Following the completion of the purchase, the insider directly owned 6,744,962 shares of the company's stock, 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 have sold 58,000 shares of company stock valued at $1,466,671 over the last ninety days. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Sionna Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in Sionna Therapeutics in the second quarter valued at $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Sionna Therapeutics in the 2nd quarter valued at $45,000. Virtus Investment Advisers LLC purchased a new stake in Sionna Therapeutics during the 2nd quarter worth about $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Sionna Therapeutics during the 2nd quarter worth about $117,000. Finally, New York State Common Retirement Fund purchased a new stake in Sionna Therapeutics during the 2nd quarter worth about $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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