Sionna Therapeutics (NASDAQ:SION) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Sionna Therapeutics (NASDAQ:SION) announced its earnings results on Wednesday. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.06, Zacks reports.

Sionna Therapeutics Price Performance

Shares of Sionna Therapeutics stock traded down $0.19 during trading on Friday, hitting $34.21. 163,456 shares of the company were exchanged, compared to its average volume of 223,425. The firm has a market capitalization of $1.51 billion and a P/E ratio of -7.02. The firm’s fifty day moving average price is $29.67 and its 200 day moving average price is $21.28. Sionna Therapeutics has a 1-year low of $7.26 and a 1-year high of $43.19.

Insider Buying and Selling at Sionna Therapeutics

In related news, Director Bruce Booth sold 88,878 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $34.22, for a total transaction of $3,041,405.16. Following the sale, the director owned 686,567 shares of the company’s stock, valued at approximately $23,494,322.74. This trade represents a 11.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ra Capital Management, L.P. sold 62,610 shares of Sionna Therapeutics stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $39.58, for a total value of $2,478,103.80. Following the transaction, the director owned 209,391 shares in the company, valued at $8,287,695.78. This trade represents a 23.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,280,028 shares of company stock valued at $43,449,735. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Sionna Therapeutics by 81.4% during the third quarter. Vanguard Group Inc. now owns 1,143,154 shares of the company’s stock worth $33,620,000 after acquiring an additional 512,803 shares in the last quarter. Soleus Capital Management L.P. lifted its position in Sionna Therapeutics by 56.7% in the 2nd quarter. Soleus Capital Management L.P. now owns 376,000 shares of the company’s stock valued at $6,524,000 after acquiring an additional 136,000 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Sionna Therapeutics by 13.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 236,813 shares of the company’s stock worth $4,109,000 after purchasing an additional 27,547 shares during the period. Viking Global Investors LP raised its stake in shares of Sionna Therapeutics by 8.2% in the 2nd quarter. Viking Global Investors LP now owns 3,195,181 shares of the company’s stock valued at $55,436,000 after purchasing an additional 242,427 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Sionna Therapeutics by 13.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company’s stock valued at $660,000 after buying an additional 4,489 shares during the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on SION. Jones Trading initiated coverage on shares of Sionna Therapeutics in a research report on Monday, September 8th. They issued a “buy” rating and a $46.00 price target on the stock. Royal Bank Of Canada started coverage on shares of Sionna Therapeutics in a research report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price target for the company. Wall Street Zen raised Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Raymond James Financial reiterated a “strong-buy” rating on shares of Sionna Therapeutics in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sionna Therapeutics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate 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.