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.
Read Our Latest Report on SION
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
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Sionna Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sionna Therapeutics wasn't on the list.
While Sionna Therapeutics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.