Sionna Therapeutics (NASDAQ:SION) Shares Up 6.2% – Here’s What Happened

Sionna Therapeutics, Inc. (NASDAQ:SION)’s share price was up 6.2% on Friday . The company traded as high as $14.50 and last traded at $14.27. Approximately 79,561 shares changed hands during trading, a decline of 59% from the average daily volume of 194,520 shares. The stock had previously closed at $13.44.

Analyst Ratings Changes

SION has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on Sionna Therapeutics in a report on Tuesday, March 4th. They issued a “buy” rating and a $32.00 price target on the stock. Guggenheim assumed coverage on Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, TD Cowen assumed coverage on shares of Sionna Therapeutics in a report on Tuesday, March 4th. They set a “buy” rating for the company.

Sionna Therapeutics Trading Down 0.1%

The stock has a 50-day moving average price of $11.95.

Sionna Therapeutics (NASDAQ:SION) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.17).

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc bought a new stake in shares of Sionna Therapeutics during the first quarter valued at about $579,000. Goldman Sachs Group Inc. bought a new stake in shares of Sionna Therapeutics during the 1st quarter worth about $667,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Sionna Therapeutics in the 1st quarter worth approximately $676,000. Woodline Partners LP bought a new position in shares of Sionna Therapeutics in the first quarter valued at approximately $837,000. Finally, CenterBook Partners LP acquired a new position in shares of Sionna Therapeutics during the first quarter valued at approximately $1,195,000.

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.