Insider Selling: Sionna Therapeutics (NASDAQ:SION) CEO Sells 17,207 Shares of Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) CEO Michael Cloonan sold 17,207 shares of Sionna Therapeutics stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $28.85, for a total transaction of $496,421.95. Following the transaction, the chief executive officer directly owned 547,343 shares in the company, valued at $15,790,845.55. The trade was a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Michael Cloonan also recently made the following trade(s):

• On Monday, September 29th, Michael Cloonan sold 7,793 shares of Sionna Therapeutics stock. The stock was sold at an average price of $29.70, for a total transaction of $231,452.10.
• On Tuesday, August 26th, Michael Cloonan sold 17,574 shares of Sionna Therapeutics stock. The stock was sold at an average price of $24.96, for a total transaction of $438,647.04.
• On Wednesday, August 27th, Michael Cloonan sold 7,426 shares of Sionna Therapeutics stock. The stock was sold at an average price of $25.01, for a total transaction of $185,724.26.

Sionna Therapeutics Price Performance

Sionna Therapeutics stock opened at $29.30 on Friday. The company’s 50 day simple moving average is $22.85 and its 200 day simple moving average is $17.19. Sionna Therapeutics, Inc. has a fifty-two week low of $7.26 and a fifty-two week high of $30.60.

Sionna Therapeutics (NASDAQ:SION) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.27.

Institutional Trading of Sionna Therapeutics

Several hedge funds have recently bought and sold shares of the stock. 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 stake in shares of Sionna Therapeutics in the second quarter valued at approximately $45,000. Virtus Investment Advisers LLC acquired a new stake in shares of Sionna Therapeutics in the second quarter valued at approximately $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Sionna Therapeutics in the second quarter valued at approximately $117,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Sionna Therapeutics in the second quarter valued at approximately $118,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SION shares. Royal Bank Of Canada began coverage on shares of Sionna Therapeutics in a research note on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price objective on the stock. Wall Street Zen upgraded shares of Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Raymond James Financial began coverage on shares of Sionna Therapeutics in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 target price on the stock. Finally, Jones Trading began coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $38.00.

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.