Sionna Therapeutics (NASDAQ:SION) Shares Down 6.6% - What's Next?

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) shares were down 6.6% on Tuesday . The stock traded as low as $18.62 and last traded at $18.63. Approximately 48,971 shares changed hands during trading, a decline of 75% from the average daily volume of 195,192 shares. The stock had previously closed at $19.94.

Wall Street Analysts Forecast Growth

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

Sionna Therapeutics Stock Down 0.9%

The firm's fifty day simple moving average is $15.90.

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

Insider Activity

In other Sionna Therapeutics news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the stock in a transaction dated Friday, June 27th. The shares were bought at an average cost of $15.84 per share, with a total value of $950,400.00. Following the completion of the transaction, the insider owned 6,744,962 shares in the company, valued at $106,840,198.08. This trade represents a 0.90% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Sionna Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SION. Jennison Associates LLC acquired a new stake in shares of Sionna Therapeutics in the first quarter valued at about $8,995,000. TD Asset Management Inc acquired a new stake in Sionna Therapeutics during the first quarter worth about $579,000. Charles Schwab Investment Management Inc. acquired a new stake in Sionna Therapeutics during the first quarter worth about $676,000. CenterBook Partners LP acquired a new stake in Sionna Therapeutics during the first quarter worth about $1,195,000. Finally, Aberdeen Group plc acquired a new stake in Sionna Therapeutics during the first quarter worth about $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.