Insider Selling: Sionna Therapeutics (NASDAQ:SION) Director Sells 25,183 Shares of Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Ra Capital Management, L.P. sold 25,183 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $39.50, for a total value of $994,728.50. Following the sale, the director directly owned 159,033 shares of the company’s stock, valued at $6,281,803.50. This represents a 13.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, November 20th, Ra Capital Management, L.P. sold 5,133 shares of Sionna Therapeutics stock. The shares were sold at an average price of $40.13, for a total value of $205,987.29.
• On Wednesday, November 19th, Ra Capital Management, L.P. sold 47,442 shares of Sionna Therapeutics stock. The stock was sold at an average price of $40.01, for a total value of $1,898,154.42.
• On Tuesday, November 18th, Ra Capital Management, L.P. sold 6,922 shares of Sionna Therapeutics stock. The shares were sold at an average price of $39.57, for a total transaction of $273,903.54.
• On Monday, November 17th, Ra Capital Management, L.P. sold 81,987 shares of Sionna Therapeutics stock. The shares were sold at an average price of $40.59, for a total value of $3,327,852.33.
• 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.
• On Friday, October 24th, Ra Capital Management, L.P. sold 311,000 shares of Sionna Therapeutics stock. The stock was sold at an average price of $39.50, for a total transaction of $12,284,500.00.

Sionna Therapeutics Stock Up 1.6%

NASDAQ SION traded up $0.72 during trading hours on Monday, hitting $44.38. 415,232 shares of the company were exchanged, compared to its average volume of 224,839. The stock has a market cap of $1.98 billion and a PE ratio of -9.11. The stock has a 50-day moving average price of $32.75 and a 200 day moving average price of $23.37. Sionna Therapeutics, Inc. has a 52 week low of $7.26 and a 52 week high of $45.00.

Sionna Therapeutics (NASDAQ:SION) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.06.

Analyst Upgrades and Downgrades

SION has been the topic of several recent research reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Sionna Therapeutics in a report on Wednesday, November 5th. BTIG Research initiated coverage on shares of Sionna Therapeutics in a research note on Wednesday, November 19th. They set a “buy” rating and a $50.00 price objective on the stock. Wall Street Zen downgraded shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sionna Therapeutics in a research report on Wednesday, November 19th. Finally, Royal Bank Of Canada started coverage on Sionna Therapeutics in a research report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Hedge Funds Weigh In On Sionna Therapeutics

Several large investors have recently made changes to their positions in SION. Bank of America Corp DE raised its position in shares of Sionna Therapeutics by 8.8% in the third quarter. Bank of America Corp DE now owns 6,541 shares of the company’s stock worth $192,000 after acquiring an additional 529 shares during the period. BNP Paribas Financial Markets grew its position in shares of Sionna Therapeutics by 35.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,380 shares of the company’s stock valued at $70,000 after acquiring an additional 619 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Sionna Therapeutics in the 3rd quarter valued at about $30,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Sionna Therapeutics in the 2nd quarter worth about $45,000. Finally, The Manufacturers Life Insurance Company boosted its position in Sionna Therapeutics by 13.4% during the second quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company’s stock worth $660,000 after purchasing an additional 4,489 shares in the last quarter.

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.