Sionna Therapeutics (NASDAQ:SION) Shares Gap Down – Should You Sell?

Sionna Therapeutics, Inc. (NASDAQ:SION)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $16.38, but opened at $16.02. Sionna Therapeutics shares last traded at $15.00, with a volume of 5,755 shares.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. TD Cowen started coverage on Sionna Therapeutics in a research report on Tuesday, March 4th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on Sionna Therapeutics in a research report on Tuesday, March 4th. They set a “buy” rating and a $32.00 price target for the company. Guggenheim began coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Wall Street Zen cut shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

Sionna Therapeutics Stock Performance

The stock’s 50-day simple moving average is $12.83.

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

Institutional Trading of Sionna Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SION. Siren L.L.C. purchased a new position in shares of Sionna Therapeutics in the 1st quarter valued at $3,400,000. Woodline Partners LP bought a new position in Sionna Therapeutics during the 1st quarter valued at $837,000. Zimmer Partners LP acquired a new stake in Sionna Therapeutics during the first quarter valued at approximately $2,484,000. Goldman Sachs Group Inc. bought a new position in Sionna Therapeutics during the first quarter worth $667,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Sionna Therapeutics in the 1st quarter valued at about $1,948,000.

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.