Sionna Therapeutics, Inc. (NASDAQ:SION) Receives $36.00 Consensus Target Price from Analysts

Sionna Therapeutics, Inc. (NASDAQ:SION) has been given an average rating of “Buy” by the five analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $36.00.

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Sionna Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Royal Bank Of Canada assumed coverage on Sionna Therapeutics in a research report on Wednesday. They set a “sector perform” rating and a $22.00 target price for the company. Finally, Raymond James Financial initiated coverage on Sionna Therapeutics in a research report on Tuesday. They set a “strong-buy” rating and a $45.00 target price for the company.

Sionna Therapeutics Stock Up 4.1%

Shares of Sionna Therapeutics stock opened at $24.00 on Wednesday. The stock has a 50 day moving average price of $20.60 and a two-hundred day moving average price of $15.99. Sionna Therapeutics has a 12-month low of $7.26 and a 12-month high of $26.50.

Sionna Therapeutics (NASDAQ:SION) last announced its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.27.

Insider Activity

In other news, CFO Elena Ridloff sold 8,836 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.08, for a total value of $221,606.88. Following the completion of the sale, the chief financial officer directly owned 38,532 shares of the company’s stock, valued at approximately $966,382.56. This represents a 18.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cloonan sold 7,426 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $25.01, for a total value of $185,724.26. Following the completion of the sale, the chief executive officer directly owned 547,343 shares of the company’s stock, valued at $13,689,048.43. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,000 shares of company stock valued at $1,466,671. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sionna Therapeutics

Several hedge funds have recently modified their holdings of SION. RA Capital Management L.P. bought a new stake in shares of Sionna Therapeutics in the first quarter valued at approximately $109,258,000. TPG GP A LLC bought a new stake in shares of Sionna Therapeutics in the first quarter valued at approximately $69,925,000. Atlas Venture Life Science Advisors LLC bought a new stake in shares of Sionna Therapeutics in the first quarter valued at approximately $38,639,000. Braidwell LP bought a new stake in shares of Sionna Therapeutics in the second quarter valued at approximately $18,770,000. Finally, Jennison Associates LLC bought a new stake in shares of Sionna Therapeutics in the first quarter valued at approximately $8,995,000.

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.