Sionna Therapeutics (NASDAQ:SION) Trading Down 5.1% Following Insider Selling

Sionna Therapeutics, Inc. (NASDAQ:SION) dropped 5.1% on Wednesday following insider selling activity. The stock traded as low as $27.90 and last traded at $27.90. Approximately 89,270 shares were traded during trading, a decline of 57% from the average daily volume of 206,964 shares. The stock had previously closed at $29.41.

Specifically, Director Bruce Booth sold 12,388 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $30.06, for a total transaction of $372,383.28. Following the sale, the director directly owned 794,110 shares of the company’s stock, valued at $23,870,946.60. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce Booth sold 66,105 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $30.09, for a total value of $1,989,099.45. Following the completion of the transaction, the director directly owned 796,259 shares of the company’s stock, valued at approximately $23,959,433.31. This trade represents a 7.67% decrease in their position. The disclosure for this sale can be found here. In other news, CEO Michael Cloonan sold 7,793 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $29.70, for a total transaction of $231,452.10. Following the sale, the chief executive officer owned 547,343 shares of the company’s stock, valued at $16,256,087.10. This trade represents a 1.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SION shares. Royal Bank Of Canada assumed coverage on shares of Sionna Therapeutics in a report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price objective for the company. Wall Street Zen upgraded shares of Sionna Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Jones Trading assumed coverage on Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Raymond James Financial began coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They issued a “strong-buy” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $38.00.

Sionna Therapeutics Stock Up 2.9%

The company’s fifty day moving average is $22.85 and its 200-day moving average is $17.19.

Sionna Therapeutics (NASDAQ:SION) last posted its quarterly earnings results 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.

Institutional Investors Weigh In On Sionna Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SION. Siren L.L.C. purchased a new position in shares of Sionna Therapeutics in the first quarter valued at about $3,400,000. Zimmer Partners LP bought a new stake in Sionna Therapeutics during the 1st quarter valued at approximately $2,484,000. Goldman Sachs Group Inc. purchased a new position in Sionna Therapeutics in the 1st quarter worth approximately $667,000. Alyeska Investment Group L.P. bought a new position in Sionna Therapeutics in the 1st quarter worth approximately $1,948,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Sionna Therapeutics during the 1st quarter valued at approximately $676,000.

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.