Sionna Therapeutics (NASDAQ:SION) Director Bruce Booth Sells 12,388 Shares of Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Bruce Booth sold 12,388 shares of Sionna Therapeutics stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $30.06, for a total value of $372,383.28. Following the sale, the director directly owned 794,110 shares in the company, 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 SEC, which is available through the SEC website.

Bruce Booth also recently made the following trade(s):

• On Wednesday, October 1st, Bruce Booth sold 200 shares of Sionna Therapeutics stock. The stock was sold at an average price of $29.95, for a total value of $5,990.00.
• On Monday, September 29th, Bruce Booth sold 66,105 shares of Sionna Therapeutics stock. The stock was sold at an average price of $30.09, for a total value of $1,989,099.45.

Sionna Therapeutics Trading Down 3.2%

SION opened at $28.47 on Thursday. Sionna Therapeutics, Inc. has a fifty-two week low of $7.26 and a fifty-two week high of $30.60. The firm’s fifty day moving average price is $22.64 and its two-hundred day moving average price is $17.09.

Sionna Therapeutics (NASDAQ:SION) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.27.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Soleus Capital Management L.P. lifted its position in shares of Sionna Therapeutics by 56.7% during the second quarter. Soleus Capital Management L.P. now owns 376,000 shares of the company’s stock worth $6,524,000 after purchasing an additional 136,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Sionna Therapeutics during the 2nd quarter worth $31,000. Braidwell LP acquired a new position in Sionna Therapeutics during the 2nd quarter worth $18,770,000. Ameriprise Financial Inc. lifted its holdings in Sionna Therapeutics by 13.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 236,813 shares of the company’s stock worth $4,109,000 after buying an additional 27,547 shares in the last quarter. Finally, Viking Global Investors LP lifted its stake in shares of Sionna Therapeutics by 8.2% during the second quarter. Viking Global Investors LP now owns 3,195,181 shares of the company’s stock valued at $55,436,000 after acquiring an additional 242,427 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SION. Jones Trading began coverage on Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 price objective on the stock. Wall Street Zen raised 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 issued a “sector perform” rating and a $22.00 price target on the stock. Finally, Raymond James Financial started coverage on shares of Sionna Therapeutics in a research note on Tuesday, September 2nd. They issued a “strong-buy” rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $38.00.

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.