Sionna Therapeutics, Inc. (NASDAQ:SION) Receives $38.00 Average Price Target from Analysts

Sionna Therapeutics, Inc. (NASDAQ:SION) has earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $38.00.

SION has been the subject of a number of recent analyst reports. Raymond James Financial initiated coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price target for the company. 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 target price for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Sionna Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. 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.

Sionna Therapeutics Price Performance

Shares of NASDAQ SION opened at $38.33 on Thursday. The company has a market capitalization of $1.69 billion and a price-to-earnings ratio of -8.69. The business has a 50-day moving average of $27.63 and a two-hundred day moving average of $19.83. Sionna Therapeutics has a 1 year low of $7.26 and a 1 year 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.27.

Insider Activity

In other news, Director Bruce Booth sold 88,878 shares of the business’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $34.22, for a total value of $3,041,405.16. Following the completion of the sale, the director directly owned 686,567 shares of the company’s stock, valued at approximately $23,494,322.74. The trade was a 11.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cloonan sold 99,800 shares of the business’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $36.26, for a total value of $3,618,748.00. Following the completion of the sale, the chief executive officer directly owned 547,343 shares of the company’s stock, valued at $19,846,657.18. The trade was a 15.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 906,418 shares of company stock valued at $28,687,131 over the last three months. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Sionna Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Soleus Capital Management L.P. increased its position in Sionna Therapeutics by 56.7% in the 2nd quarter. Soleus Capital Management L.P. now owns 376,000 shares of the company’s stock valued at $6,524,000 after acquiring an additional 136,000 shares during the period. BNP Paribas Financial Markets acquired a new position in Sionna Therapeutics in the 2nd quarter valued at about $31,000. Braidwell LP acquired a new position in Sionna Therapeutics in the 2nd quarter valued at about $18,770,000. Ameriprise Financial Inc. increased its position in Sionna Therapeutics by 13.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 236,813 shares of the company’s stock valued at $4,109,000 after acquiring an additional 27,547 shares during the period. Finally, Viking Global Investors LP increased its position in Sionna Therapeutics by 8.2% in the 2nd 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.

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.