Sionna Therapeutics (NASDAQ:SION) Rating Increased to Hold at Wall Street Zen

Key Points

• Sionna Therapeutics has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• The company's shares opened at $20.82 with a 52-week range between $7.26 and $25.19, reflecting substantial volatility in its stock price.
• Major shareholder TPG GP A LLC recently acquired 60,000 shares at an average price of $15.84 each, increasing their ownership stake by 0.90%.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Sionna Therapeutics Stock Down 2.1%

SION traded down $0.45 on Friday, hitting $20.94. 76,642 shares of the company traded hands, compared to its average volume of 190,161. Sionna Therapeutics has a 12-month low of $7.26 and a 12-month high of $25.19. The stock's 50 day moving average is $18.16.

Sionna Therapeutics (NASDAQ:SION - Get Free Report) last issued its quarterly earnings data 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.

Insiders Place Their Bets

In other Sionna Therapeutics news, major shareholder Tpg Gp A, Llc bought 60,000 shares of the company's stock in a transaction on Friday, June 27th. The stock was bought at an average price of $15.84 per share, for a total transaction of $950,400.00. Following the transaction, the insider owned 6,744,962 shares of the company's stock, valued at approximately $106,840,198.08. The trade was a 0.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Sionna Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Soleus Capital Management L.P. boosted its stake in Sionna Therapeutics by 56.7% in the 2nd quarter. Soleus Capital Management L.P. now owns 376,000 shares of the company's stock worth $6,524,000 after purchasing an additional 136,000 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Sionna Therapeutics during the 2nd quarter worth approximately $31,000. Braidwell LP acquired a new stake in shares of Sionna Therapeutics during the 2nd quarter worth approximately $18,770,000. Ameriprise Financial Inc. boosted its position in shares of Sionna Therapeutics by 13.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 236,813 shares of the company's stock worth $4,109,000 after acquiring an additional 27,547 shares in the last quarter. Finally, Viking Global Investors LP boosted its position in shares of Sionna Therapeutics by 8.2% during the 2nd quarter. Viking Global Investors LP now owns 3,195,181 shares of the company's stock worth $55,436,000 after acquiring an additional 242,427 shares in the last quarter.

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.