Insider Selling: Sionna Therapeutics (NASDAQ:SION) Director Sells 3,448,811 Shares of Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Ra Capital Management, L.P. sold 3,448,811 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $6.33, for a total value of $21,830,973.63. Following the sale, the director owned 3,448,812 shares of the company’s stock, valued at approximately $21,830,979.96. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Sionna Therapeutics Trading Up 0.7%

Sionna Therapeutics stock traded up $0.04 during mid-day trading on Monday, hitting $6.00. The stock had a trading volume of 2,522,706 shares, compared to its average volume of 959,961. The stock has a 50-day simple moving average of $22.51 and a two-hundred day simple moving average of $33.54. The stock has a market capitalization of $271.26 million, a PE ratio of -2.75 and a beta of 0.89. Sionna Therapeutics, Inc. has a 12 month low of $4.01 and a 12 month high of $54.97.

Sionna Therapeutics (NASDAQ:SION) last released its earnings results on Thursday, August 6th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.02). Sell-side analysts expect that Sionna Therapeutics, Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new stake in Sionna Therapeutics in the second quarter valued at approximately $686,000. AXQ Capital LP bought a new position in shares of Sionna Therapeutics during the second quarter worth $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sionna Therapeutics by 9,056.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,622 shares of the company’s stock valued at $467,000 after buying an additional 10,506 shares during the period. Wellington Management Group LLP acquired a new position in shares of Sionna Therapeutics in the 2nd quarter valued at $1,644,000. Finally, Artia Global Partners LP bought a new stake in shares of Sionna Therapeutics in the 2nd quarter valued at $5,267,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Sionna Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. BTIG Research cut shares of Sionna Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, August 10th. Lifesci Capital downgraded Sionna Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Royal Bank Of Canada upgraded Sionna Therapeutics from an “underperform” rating to a “sector perform” rating and set a $5.00 price target on the stock in a research report on Monday, August 10th. Finally, Wedbush lifted their price objective on Sionna Therapeutics from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sionna Therapeutics currently has an average rating of “Hold” and an average target price of $42.33.

Sionna Therapeutics Company Profile

Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disease that affects the lungs and other organs. The company is developing small-molecule therapies designed to address defects in the cystic fibrosis transmembrane conductance regulator (CFTR) protein, which is responsible for transporting salt and fluids across cell membranes.

Sionna’s research is centered on nucleotide-binding domain 1 (NBD1) correctors.