Jones Trading Begins Coverage on Sionna Therapeutics (NASDAQ:SION)

Analysts at Jones Trading assumed coverage on shares of Sionna Therapeutics (NASDAQ:SION) in a report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $46.00 price target on the stock. Jones Trading’s price objective suggests a potential upside of 87.76% from the company’s previous close.

Several other analysts have also weighed in on the company. Royal Bank Of Canada began coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price objective for the company. Wall Street Zen raised shares of Sionna Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Raymond James Financial assumed coverage on shares of 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 assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $38.00.

Sionna Therapeutics Price Performance

NASDAQ SION opened at $24.50 on Monday. Sionna Therapeutics has a 52 week low of $7.26 and a 52 week high of $26.50. The company’s fifty day simple moving average is $20.81 and its 200-day simple moving average is $16.03.

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

Insider Buying and Selling

In related news, major shareholder Tpg Gp A, Llc bought 60,000 shares of the firm’s stock in a transaction on Friday, June 27th. The stock was purchased at an average price of $15.84 per share, with a total value of $950,400.00. Following the completion of the transaction, the insider directly owned 6,744,962 shares of the company’s stock, valued at $106,840,198.08. This trade represents a 0.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elena Ridloff sold 8,836 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.08, for a total transaction of $221,606.88. Following 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 58,000 shares of company stock worth $1,466,671. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in Sionna Therapeutics in the 2nd quarter valued at approximately $31,000. Police & Firemen s Retirement System of New Jersey bought a new position in Sionna Therapeutics in the 2nd quarter valued at $45,000. Virtus Investment Advisers LLC acquired a new position in Sionna Therapeutics during the 2nd quarter worth about $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Sionna Therapeutics during the second quarter valued at approximately $117,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Sionna Therapeutics in the 2nd quarter valued at $118,000.

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.