Sionna Therapeutics (NASDAQ:SION) Trading Down 3% - Should You Sell?

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report)'s stock price dropped 3% on Wednesday . The stock traded as low as $20.78 and last traded at $20.93. Approximately 169,229 shares were traded during trading, a decline of 32% from the average daily volume of 248,095 shares. The stock had previously closed at $21.57.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Sionna Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Sionna Therapeutics Price Performance

The company's 50-day moving average is $15.24.

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

Insider Activity

In related news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of Sionna Therapeutics stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average price of $15.84 per share, for a total transaction of $950,400.00. Following the transaction, the insider directly owned 6,744,962 shares in the company, valued at approximately $106,840,198.08. This trade represents a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sionna Therapeutics

Several large investors have recently bought and sold shares of the company. Jennison Associates LLC purchased a new position in shares of Sionna Therapeutics in the first quarter valued at approximately $8,995,000. TD Asset Management Inc acquired a new position in Sionna Therapeutics in the 1st quarter valued at $579,000. Charles Schwab Investment Management Inc. purchased a new position in Sionna Therapeutics in the 1st quarter valued at $676,000. CenterBook Partners LP acquired a new stake in Sionna Therapeutics during the 1st quarter worth $1,195,000. Finally, Aberdeen Group plc purchased a new stake in shares of Sionna Therapeutics during the first quarter worth $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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