Sionna Therapeutics (NASDAQ:SION) Trading Up 6.5% – Should You Buy?

Sionna Therapeutics, Inc. (NASDAQ:SION)’s share price was up 6.5% during trading on Tuesday . The stock traded as high as $17.54 and last traded at $17.53. Approximately 60,543 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 183,207 shares. The stock had previously closed at $16.46.

Analysts Set New Price Targets

Several analysts have weighed in on SION shares. Stifel Nicolaus started coverage on shares of Sionna Therapeutics in a research report on Tuesday, March 4th. They set a “buy” rating and a $32.00 target price on the stock. Wall Street Zen downgraded shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. TD Cowen started coverage on Sionna Therapeutics in a research report on Tuesday, March 4th. They issued a “buy” rating on the stock. Finally, 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 for the company.

Sionna Therapeutics Trading Up 10.7%

The stock has a fifty day moving average of $12.26.

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

Institutional Investors Weigh In On Sionna Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SION. Zimmer Partners LP purchased a new stake in shares of Sionna Therapeutics in the first quarter worth about $2,484,000. Alyeska Investment Group L.P. acquired a new position in Sionna Therapeutics in the first quarter valued at approximately $1,948,000. Charles Schwab Investment Management Inc. acquired a new position in Sionna Therapeutics in the first quarter valued at approximately $676,000. RA Capital Management L.P. purchased a new stake in Sionna Therapeutics in the 1st quarter worth approximately $109,258,000. Finally, Baker BROS. Advisors LP acquired a new stake in shares of Sionna Therapeutics during the 1st quarter worth approximately $4,184,000.

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.