Sionna Therapeutics (NASDAQ:SION) Reaches New 1-Year High – Should You Buy?

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $29.10 and last traded at $29.10, with a volume of 2833 shares changing hands. The stock had previously closed at $28.94.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SION shares. Raymond James Financial initiated coverage on Sionna Therapeutics in a research note on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price target for the company. Jones Trading assumed coverage on Sionna Therapeutics in a research report on Monday, September 8th. They set a “buy” rating and a $46.00 target price 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. Finally, Royal Bank Of Canada began coverage on Sionna Therapeutics in a research report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Sionna Therapeutics presently has a consensus rating of “Buy” and an average target price of $38.00.

Sionna Therapeutics Trading Up 3.3%

The company’s fifty day moving average price is $22.02 and its 200-day moving average price is $16.82.

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 analysts’ consensus estimates of ($0.68) by $0.27.

Insider Buying and Selling at Sionna Therapeutics

In other Sionna Therapeutics news, CFO Elena Ridloff sold 16,098 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $25.97, for a total transaction of $418,065.06. Following the completion of the transaction, the chief financial officer owned 48,116 shares of the company’s stock, valued at $1,249,572.52. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cloonan sold 17,574 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $24.96, for a total transaction of $438,647.04. Following the transaction, the chief executive officer directly owned 547,343 shares of the company’s stock, valued at $13,661,681.28. This trade represents a 3.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,000 shares of company stock valued at $1,466,671 in the last ninety days. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sionna Therapeutics

A number of institutional investors have recently modified their holdings of SION. RA Capital Management L.P. purchased a new position in Sionna Therapeutics in the first quarter worth $109,258,000. TPG GP A LLC acquired a new stake in shares of Sionna Therapeutics during the first quarter worth $69,925,000. Atlas Venture Life Science Advisors LLC acquired a new position in Sionna Therapeutics during the first quarter valued at $38,639,000. Braidwell LP acquired a new position in Sionna Therapeutics during the second quarter valued at $18,770,000. Finally, Jennison Associates LLC acquired a new position in Sionna Therapeutics during the first quarter valued at $8,995,000.

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.