Sionna Therapeutics (NASDAQ:SION) Stock Price Down 3% - Time to Sell?

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) shares dropped 3% on Wednesday . The company 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.

Wall Street Analyst Weigh In

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

Sionna Therapeutics Trading Down 2.4%

The stock's 50 day moving average is $15.54.

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

Insider Activity

In other Sionna Therapeutics news, major shareholder Tpg Gp A, Llc acquired 60,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $15.84 per share, with a total value of $950,400.00. Following the purchase, the insider owned 6,744,962 shares of the company's stock, valued at approximately $106,840,198.08. This trade represents a 0.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Sionna Therapeutics

A number of institutional investors have recently made changes to their positions in the business. TD Asset Management Inc purchased a new stake in shares of Sionna Therapeutics in the 1st quarter valued at $579,000. Goldman Sachs Group Inc. purchased a new stake in shares of Sionna Therapeutics in the 1st quarter valued at $667,000. Charles Schwab Investment Management Inc. bought a new stake in Sionna Therapeutics during the 1st quarter valued at $676,000. Woodline Partners LP bought a new stake in Sionna Therapeutics during the 1st quarter valued at $837,000. Finally, CenterBook Partners LP bought a new stake in Sionna Therapeutics during the 1st quarter valued at $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.