Insider Selling: Sionna Therapeutics (NASDAQ:SION) Director Sells 1,600 Shares of Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Orbimed Advisors Llc sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $44.49, for a total transaction of $71,184.00. Following the transaction, the director owned 3,596,886 shares in the company, valued at approximately $160,025,458.14. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Orbimed Advisors Llc also recently made the following trade(s):

• On Tuesday, November 25th, Orbimed Advisors Llc sold 11,890 shares of Sionna Therapeutics stock. The shares were sold at an average price of $44.60, for a total transaction of $530,294.00.
• On Monday, November 24th, Orbimed Advisors Llc sold 94,583 shares of Sionna Therapeutics stock. The stock was sold at an average price of $44.54, for a total transaction of $4,212,726.82.

Sionna Therapeutics Price Performance

Shares of NASDAQ:SION traded down $0.49 on Wednesday, reaching $43.79. The company’s stock had a trading volume of 179,798 shares, compared to its average volume of 224,671. The stock’s 50-day moving average is $33.61 and its two-hundred day moving average is $23.82. Sionna Therapeutics, Inc. has a 52-week low of $7.26 and a 52-week high of $45.00. The stock has a market capitalization of $1.95 billion and a P/E ratio of -8.99.

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

Analyst Upgrades and Downgrades

SION has been the subject of several analyst reports. BTIG Research initiated coverage on shares of Sionna Therapeutics in a report on Wednesday, November 19th. They set a “buy” rating and a $50.00 price target for the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Sionna Therapeutics in a research report on Wednesday, November 5th. Royal Bank Of Canada initiated coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price target for the company. Wall Street Zen lowered Sionna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Jones Trading initiated coverage on Sionna Therapeutics in a report on Monday, September 8th. They issued a “buy” rating and a $46.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Hedge Funds Weigh In On Sionna Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new position in Sionna Therapeutics during the third quarter worth about $30,000. BNP Paribas Financial Markets acquired a new stake in shares of Sionna Therapeutics in the second quarter valued at approximately $31,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Sionna Therapeutics during the 2nd quarter worth approximately $45,000. Virtus Investment Advisers LLC purchased a new stake in Sionna Therapeutics in the 2nd quarter valued at approximately $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Sionna Therapeutics in the 2nd quarter valued at approximately $117,000.

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.