Insider Selling: Sionna Therapeutics (NASDAQ:SION) Director Sells $1,989,099.45 in Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Bruce Booth sold 66,105 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $30.09, for a total value of $1,989,099.45. Following the sale, the director owned 796,259 shares in the company, valued at $23,959,433.31. The trade was a 7.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Bruce Booth also recently made the following trade(s):

• On Wednesday, October 1st, Bruce Booth sold 200 shares of Sionna Therapeutics stock. The stock was sold at an average price of $29.95, for a total value of $5,990.00.
• On Tuesday, September 30th, Bruce Booth sold 12,388 shares of Sionna Therapeutics stock. The stock was sold at an average price of $30.06, for a total value of $372,383.28.

Sionna Therapeutics Price Performance

NASDAQ:SION opened at $30.01 on Friday. Sionna Therapeutics, Inc. has a 1-year low of $7.26 and a 1-year high of $30.60. The firm has a fifty day simple moving average of $23.06 and a 200 day simple moving average of $17.29.

Sionna Therapeutics (NASDAQ:SION) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.27.

Institutional Trading of Sionna Therapeutics

Several hedge funds have recently added to or reduced their stakes in SION. BNP Paribas Financial Markets bought a new position in Sionna Therapeutics during the 2nd quarter worth $31,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Sionna Therapeutics in the second quarter valued at about $45,000. The Manufacturers Life Insurance Company increased its position in Sionna Therapeutics by 13.4% during the second quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company’s stock worth $660,000 after acquiring an additional 4,489 shares during the period. Virtus Investment Advisers LLC acquired a new stake in Sionna Therapeutics in the 2nd quarter worth about $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Sionna Therapeutics in the 2nd quarter valued at about $117,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SION. Wall Street Zen raised Sionna Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Raymond James Financial assumed coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sionna Therapeutics in a report on Saturday, September 27th. Royal Bank Of Canada initiated coverage on shares of Sionna Therapeutics in a research report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 price objective for the company. Finally, Jones Trading assumed coverage on shares of Sionna Therapeutics in a research report on Monday, September 8th. They issued a “buy” rating and a $46.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.00.

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.