Sionna Therapeutics (NASDAQ:SION) Stock Price Down 3% - Here's What Happened

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

Wall Street Analysts Forecast Growth

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

Sionna Therapeutics Price Performance

The stock has a 50-day simple moving average of $15.24.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last released its 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 at Sionna Therapeutics

In related news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was purchased at an average cost of $15.84 per share, with a total value of $950,400.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Sionna Therapeutics

A number of large investors have recently made changes to their positions in the stock. TD Asset Management Inc bought a new position in shares of Sionna Therapeutics in the first quarter worth $579,000. Goldman Sachs Group Inc. bought a new position in shares of Sionna Therapeutics in the first quarter worth $667,000. Charles Schwab Investment Management Inc. bought a new position in shares of Sionna Therapeutics in the first quarter worth $676,000. Woodline Partners LP bought a new position in shares of Sionna Therapeutics in the first quarter worth $837,000. Finally, CenterBook Partners LP bought a new position in shares of Sionna Therapeutics in the first quarter worth $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.