Sionna Therapeutics, Inc. (NASDAQ:SION) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION) have earned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.00.

A number of equities research analysts recently commented on SION shares. Jones Trading initiated coverage on shares of Sionna Therapeutics in a report on Monday. They set a “buy” rating and a $46.00 price target for the company. Raymond James Financial initiated coverage on shares of Sionna Therapeutics in a research note on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price objective for the company. Wall Street Zen upgraded shares of Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Royal Bank Of Canada assumed coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price target on the stock.

Sionna Therapeutics Trading Up 13.3%

SION opened at $24.50 on Wednesday. Sionna Therapeutics has a 12 month low of $7.26 and a 12 month high of $26.50. The business’s 50-day moving average price is $20.81 and its 200-day moving average price is $16.03.

Sionna Therapeutics (NASDAQ:SION) last announced its quarterly earnings data 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.

Insider Activity at Sionna Therapeutics

In related news, CEO Michael Cloonan sold 17,574 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $24.96, for a total value of $438,647.04. Following the completion of the sale, the chief executive officer owned 547,343 shares of the company’s stock, valued at $13,661,681.28. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elena Ridloff sold 16,098 shares of Sionna Therapeutics stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $25.97, for a total transaction of $418,065.06. Following the completion of the sale, the chief financial officer owned 48,116 shares in the company, valued at approximately $1,249,572.52. This trade represents a 25.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,000 shares of company stock worth $1,466,671 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sionna Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SION. BNP Paribas Financial Markets bought a new position in Sionna Therapeutics in the second quarter worth about $31,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Sionna Therapeutics during the 2nd quarter worth approximately $45,000. Virtus Investment Advisers LLC purchased a new position in shares of Sionna Therapeutics during the 2nd quarter worth approximately $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Sionna Therapeutics during the 2nd quarter worth approximately $117,000. Finally, New York State Common Retirement Fund bought a new position in shares of Sionna Therapeutics in the 2nd quarter worth approximately $118,000.

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.