Sionna Therapeutics (NASDAQ:SION) Trading 7.5% Higher - Here's Why

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) shares shot up 7.5% during mid-day trading on Monday . The company traded as high as $17.23 and last traded at $17.03. 131,146 shares traded hands during trading, a decline of 34% from the average session volume of 197,972 shares. The stock had previously closed at $15.84.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Guggenheim began coverage on shares of Sionna Therapeutics in a research report on Tuesday, March 4th. They set a "buy" rating and a $45.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They set a "buy" rating and a $32.00 target price for the company. Wall Street Zen downgraded shares of Sionna Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, TD Cowen assumed coverage on shares of Sionna Therapeutics in a report on Tuesday, March 4th. They set a "buy" rating for the company.

Sionna Therapeutics Stock Up 12.9%

The business has a 50 day moving average of $13.94.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last posted its 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).

Institutional Trading of Sionna Therapeutics

Large investors have recently made changes to their positions in the business. RA Capital Management L.P. bought a new position in shares of Sionna Therapeutics in the 1st quarter valued at about $109,258,000. TPG GP A LLC bought a new stake in shares of Sionna Therapeutics in the 1st quarter valued at approximately $69,925,000. Atlas Venture Life Science Advisors LLC bought a new stake in shares of Sionna Therapeutics in the 1st quarter valued at approximately $38,639,000. Jennison Associates LLC purchased a new position in shares of Sionna Therapeutics in the 1st quarter worth approximately $8,995,000. Finally, Aberdeen Group plc bought a new position in shares of Sionna Therapeutics during the 1st quarter valued at approximately $7,803,000.

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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