Sionna Therapeutics (NASDAQ:SION) Shares Up 6.5% - What's Next?

Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) shot up 6.5% during mid-day trading on Tuesday . The company traded as high as $17.54 and last traded at $17.53. 60,543 shares were traded during trading, a decline of 67% from the average session volume of 183,207 shares. The stock had previously closed at $16.46.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SION shares. Wall Street Zen cut shares of Sionna Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. TD Cowen assumed coverage on Sionna Therapeutics in a report on Tuesday, March 4th. They set a "buy" rating on the stock. Guggenheim initiated coverage on Sionna Therapeutics in a research note on Tuesday, March 4th. They set a "buy" rating and a $45.00 price objective for the company. Finally, Stifel Nicolaus started coverage on Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a "buy" rating and a $32.00 target price on the stock.

Sionna Therapeutics Stock Down 3.6%

The stock's fifty day simple moving average is $12.69.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Siren L.L.C. acquired a new stake in shares of Sionna Therapeutics during the 1st quarter valued at $3,400,000. Woodline Partners LP acquired a new position in Sionna Therapeutics in the 1st quarter valued at $837,000. Zimmer Partners LP acquired a new stake in shares of Sionna Therapeutics in the first quarter worth $2,484,000. Goldman Sachs Group Inc. bought a new stake in shares of Sionna Therapeutics during the first quarter valued at approximately $667,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Sionna Therapeutics during the first quarter valued at approximately $1,948,000.

About Sionna Therapeutics

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.