Sionna Therapeutics (NASDAQ:SION) Stock Price Down 6.6% - Should You Sell?

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

Analyst Upgrades and Downgrades

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

Sionna Therapeutics Stock Performance

The firm's 50 day moving average price is $16.02.

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

Insider Transactions at Sionna Therapeutics

In other news, major shareholder Tpg Gp A, Llc bought 60,000 shares of the firm's stock in a transaction on Friday, June 27th. The stock was acquired 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 owned 6,744,962 shares of the company's stock, valued at approximately $106,840,198.08. This represents a 0.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SION. RA Capital Management L.P. purchased a new position in shares of Sionna Therapeutics during the first quarter valued at approximately $109,258,000. TPG GP A LLC bought a new stake in Sionna Therapeutics during the first quarter valued at approximately $69,925,000. Atlas Venture Life Science Advisors LLC bought a new stake in Sionna Therapeutics during the first quarter valued at approximately $38,639,000. Jennison Associates LLC bought a new stake in Sionna Therapeutics during the first quarter valued at approximately $8,995,000. Finally, Aberdeen Group plc bought a new stake in Sionna Therapeutics during the first quarter valued at approximately $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.