Sionna Therapeutics (NASDAQ:SION) Shares Gap Down Following Insider Selling

Sionna Therapeutics, Inc. (NASDAQ:SION)’s share price gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $28.47, but opened at $27.61. Sionna Therapeutics shares last traded at $27.66, with a volume of 16,416 shares trading hands.

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

Analyst Upgrades and Downgrades

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

Sionna Therapeutics Price Performance

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

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

Institutional Investors Weigh In On Sionna Therapeutics

Several hedge funds have recently added to or reduced their stakes in SION. Siren L.L.C. purchased a new position in shares of Sionna Therapeutics during the 1st quarter valued at about $3,400,000. Zimmer Partners LP purchased a new stake in Sionna Therapeutics in the 1st quarter worth approximately $2,484,000. Goldman Sachs Group Inc. acquired a new stake in shares of Sionna Therapeutics during the 1st quarter worth approximately $667,000. Alyeska Investment Group L.P. acquired a new stake in shares of Sionna Therapeutics during the 1st quarter worth approximately $1,948,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Sionna Therapeutics during the 1st quarter valued at approximately $676,000.

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.