Sionna Therapeutics (NASDAQ:SION) Stock Price Down 4% - Time to Sell?

Key Points

• Sionna Therapeutics' stock price declined by 4% to $21.91, with trading volume down 89% from its average.
• Analysts have mixed ratings on the stock, with a consensus price target of $38.00 and varying opinions from "strong buy" to "hold."
• The company reported better-than-expected earnings with an EPS of ($0.41), surpassing analyst estimates by $0.27.

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) dropped 4% on Monday . The stock traded as low as $21.87 and last traded at $21.91. Approximately 21,429 shares traded hands during trading, a decline of 89% from the average daily volume of 197,953 shares. The stock had previously closed at $22.83.

Analyst Upgrades and Downgrades

SION has been the subject of several research reports. Royal Bank Of Canada initiated coverage on Sionna Therapeutics in a research note on Wednesday, September 3rd. They set a "sector perform" rating and a $22.00 target price for the company. Jones Trading initiated coverage on Sionna Therapeutics in a research note on Monday, September 8th. They set a "buy" rating and a $46.00 target price for the company. Wall Street Zen raised Sionna Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Raymond James Financial initiated coverage on Sionna Therapeutics in a research note on Tuesday, September 2nd. They set a "strong-buy" rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $38.00.

Sionna Therapeutics Stock Performance

The stock has a 50 day moving average price of $21.14 and a two-hundred day moving average price of $16.43.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.27.

Insider Buying and Selling at Sionna Therapeutics

In other Sionna Therapeutics news, major shareholder Tpg Gp A, Llc bought 60,000 shares of the stock in a transaction on Friday, June 27th. The shares were purchased at an average price of $15.84 per share, with a total value of $950,400.00. Following the acquisition, the insider directly owned 6,744,962 shares of the company's stock, valued at $106,840,198.08. This represents a 0.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cloonan sold 7,426 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $25.01, for a total value of $185,724.26. Following the completion of the sale, the chief executive officer directly owned 547,343 shares in the company, valued at $13,689,048.43. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,000 shares of company stock valued at $1,466,671 in the last 90 days. 3.90% of the stock is currently owned by insiders.

Institutional Trading of Sionna Therapeutics

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $31,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $45,000. Virtus Investment Advisers LLC bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $117,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Sionna Therapeutics in the 2nd quarter worth approximately $118,000.

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.