Sionna Therapeutics (NASDAQ:SION) Shares Down 3% – What’s Next?

Sionna Therapeutics, Inc. (NASDAQ:SION) shares fell 3% on Tuesday . The stock traded as low as $13.75 and last traded at $14.08. 8,753 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 191,737 shares. The stock had previously closed at $14.51.

Analyst Upgrades and Downgrades

A number of research firms have commented on SION. Stifel Nicolaus began coverage on Sionna Therapeutics in a report on Tuesday, March 4th. They set a “buy” rating and a $32.00 target price on the stock. Guggenheim began coverage on shares of Sionna Therapeutics in a report on Tuesday, March 4th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, TD Cowen assumed coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They set a “buy” rating on the stock.

Sionna Therapeutics Stock Down 6.2%

The business has a fifty day moving average of $11.90.

Sionna Therapeutics (NASDAQ:SION) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.17).

Hedge Funds Weigh In On Sionna Therapeutics

Hedge funds have recently modified their holdings of the stock. TD Asset Management Inc purchased a new position in Sionna Therapeutics in the 1st quarter worth about $579,000. Goldman Sachs Group Inc. acquired a new stake in Sionna Therapeutics during the first quarter valued at $667,000. Charles Schwab Investment Management Inc. purchased a new position in Sionna Therapeutics in the first quarter valued at about $676,000. Woodline Partners LP acquired a new position in Sionna Therapeutics in the 1st quarter worth about $837,000. Finally, CenterBook Partners LP purchased a new stake in shares of Sionna Therapeutics during the 1st quarter worth about $1,195,000.

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.