Sionna Therapeutics (NASDAQ:SION) Announces Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Sionna Therapeutics (NASDAQ:SION) released its quarterly earnings data on Tuesday. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.10), FiscalAI reports.

Sionna Therapeutics Price Performance

Shares of NASDAQ:SION traded up $0.07 during trading on Tuesday, hitting $3.64. The company’s stock had a trading volume of 191,888 shares, compared to its average volume of 969,211. The company has a 50-day moving average of $5.17 and a 200-day moving average of $29.02. Sionna Therapeutics has a 12 month low of $3.19 and a 12 month high of $54.97. The firm has a market cap of $164.75 million, a price-to-earnings ratio of -1.68 and a beta of 1.23.

Insider Transactions at Sionna Therapeutics

In related news, Director Ra Capital Management, L.P. sold 3,448,811 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.33, for a total transaction of $21,830,973.63. Following the completion of the sale, the director directly owned 3,448,812 shares in the company, valued at approximately $21,830,979.96. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Sionna Therapeutics

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Sionna Therapeutics during the 2nd quarter worth approximately $64,875,000. Jennison Associates LLC lifted its stake in shares of Sionna Therapeutics by 30.1% during the 1st quarter. Jennison Associates LLC now owns 1,451,220 shares of the company’s stock valued at $58,179,000 after buying an additional 335,942 shares in the last quarter. Artia Global Partners LP bought a new position in Sionna Therapeutics in the 2nd quarter worth $5,267,000. Walleye Capital LLC bought a new position in Sionna Therapeutics in the 2nd quarter worth $4,282,000. Finally, Bank of America Corp DE purchased a new stake in Sionna Therapeutics in the 2nd quarter worth $3,911,000.

Analyst Upgrades and Downgrades

SION has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sionna Therapeutics in a research note on Tuesday, November 3rd. Royal Bank Of Canada upgraded shares of Sionna Therapeutics from an “underperform” rating to a “sector perform” rating and set a $5.00 price objective on the stock in a research report on Monday, August 10th. Citizens Jmp cut shares of Sionna Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. Wall Street Zen downgraded shares of Sionna Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Raymond James Financial lowered shares of Sionna Therapeutics from a “strong-buy” rating to a “market perform” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sionna Therapeutics has an average rating of “Hold” and an average price target of $42.33.

About Sionna Therapeutics

Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disorder that affects the lungs and other organs. The company is working to address the underlying cause of CF by developing small-molecule therapies designed to improve the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein.

Sionna’s research centers on the nucleotide-binding domain 1 (NBD1) of CFTR, which plays an important role in the protein’s structure and activity.