Wall Street Zen Downgrades Sionna Therapeutics (NASDAQ:SION) to Sell

Sionna Therapeutics (NASDAQ:SION) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada initiated coverage on Sionna Therapeutics in a research note on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price objective for the company. Jones Trading initiated coverage on Sionna Therapeutics in a research report on Monday, September 8th. They issued a “buy” rating and a $46.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sionna Therapeutics in a research note on Thursday. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Sionna Therapeutics in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sionna Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Sionna Therapeutics Stock Performance

Shares of NASDAQ:SION opened at $37.00 on Friday. The firm has a market capitalization of $1.65 billion and a PE ratio of -7.60. The firm has a fifty day moving average of $31.07 and a 200 day moving average of $22.27. Sionna Therapeutics has a 52-week low of $7.26 and a 52-week high of $43.19.

Sionna Therapeutics (NASDAQ:SION) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.06.

Insider Buying and Selling

In other news, Director Bruce Booth sold 169,260 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $32.35, for a total transaction of $5,475,561.00. Following the sale, the director directly owned 722,301 shares of the company’s stock, valued at $23,366,437.35. This represents a 18.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cloonan sold 99,800 shares of Sionna Therapeutics stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $36.26, for a total transaction of $3,618,748.00. Following the completion of the transaction, the chief executive officer directly owned 547,343 shares of the company’s stock, valued at $19,846,657.18. The trade was a 15.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,280,028 shares of company stock valued at $43,449,735. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new stake in shares of Sionna Therapeutics in the 3rd quarter worth $30,000. BNP Paribas Financial Markets bought a new stake in shares of Sionna Therapeutics in the second quarter valued at about $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Sionna Therapeutics in the second quarter worth about $45,000. Virtus Investment Advisers LLC bought a new position in Sionna Therapeutics during the 2nd quarter worth about $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Sionna Therapeutics during the 2nd quarter worth about $117,000.

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.