Sionna Therapeutics (NASDAQ:SION) Director Ra Capital Management, L.P. Sells 311,000 Shares of Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Ra Capital Management, L.P. sold 311,000 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $39.50, for a total transaction of $12,284,500.00. Following the transaction, the director directly owned 219,867 shares in the company, valued at approximately $8,684,746.50. The trade was a 58.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, October 28th, Ra Capital Management, L.P. sold 62,610 shares of Sionna Therapeutics stock. The shares were sold at an average price of $39.58, for a total transaction of $2,478,103.80.

Sionna Therapeutics Trading Up 2.9%

Shares of SION stock opened at $39.45 on Wednesday. The company’s 50-day moving average price is $27.99 and its 200-day moving average price is $20.05. The stock has a market cap of $1.74 billion and a price-to-earnings ratio of -8.95. Sionna Therapeutics, Inc. has a twelve month low of $7.26 and a twelve month high of $43.19.

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

Institutional Trading of Sionna Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Soleus Capital Management L.P. increased its stake 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 buying an additional 136,000 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Sionna Therapeutics during the second quarter worth approximately $31,000. Braidwell LP purchased a new stake in shares of Sionna Therapeutics during the second quarter worth approximately $18,770,000. Ameriprise Financial Inc. increased its stake in shares of Sionna Therapeutics by 13.2% during the second 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 during the period. Finally, Viking Global Investors LP increased 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 worth $55,436,000 after buying an additional 242,427 shares during the period.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jones Trading assumed coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They issued a “buy” rating and a $46.00 price objective on the stock. Raymond James Financial assumed coverage on shares of Sionna Therapeutics in a report on Tuesday, September 2nd. They issued a “strong-buy” rating and a $45.00 price objective on the stock. Wall Street Zen upgraded shares of Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sionna Therapeutics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.