Sionna Therapeutics (NASDAQ:SION) Shares Gap Down Following Weak Earnings

Sionna Therapeutics, Inc. (NASDAQ:SION)’s stock price gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $12.90, but opened at $12.43. Sionna Therapeutics shares last traded at $12.43, with a volume of 779 shares.

The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.17).

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SION. Guggenheim began coverage on Sionna Therapeutics in a report on Tuesday, March 4th. They issued a “buy” rating and a $45.00 price objective on the stock. Stifel Nicolaus began coverage on Sionna Therapeutics in a report on Tuesday, March 4th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, TD Cowen began coverage on Sionna Therapeutics in a report on Tuesday, March 4th. They issued a “buy” rating on the stock.

Hedge Funds Weigh In On Sionna Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc acquired a new position in Sionna Therapeutics during the first quarter valued at approximately $579,000. Charles Schwab Investment Management Inc. acquired a new position in Sionna Therapeutics during the first quarter valued at approximately $676,000. CenterBook Partners LP acquired a new position in Sionna Therapeutics during the first quarter valued at approximately $1,195,000. Aberdeen Group plc acquired a new position in Sionna Therapeutics during the first quarter valued at approximately $7,803,000. Finally, Jennison Associates LLC acquired a new position in Sionna Therapeutics during the first quarter valued at approximately $8,995,000.

Sionna Therapeutics Price Performance

The business’s fifty day moving average is $12.04.

Sionna Therapeutics Company Profile

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.