Insider Selling: Sionna Therapeutics (NASDAQ:SION) Director Sells $1,132,380.00 in Stock

Sionna Therapeutics, Inc. (NASDAQ:SION) Director Bruce Booth sold 37,746 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $30.00, for a total transaction of $1,132,380.00. Following the completion of the sale, the director directly owned 787,527 shares of the company’s stock, valued at approximately $23,625,810. This represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, October 6th, Bruce Booth sold 11,800 shares of Sionna Therapeutics stock. The stock was sold at an average price of $29.95, for a total transaction of $353,410.00.
• 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 transaction 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 transaction of $372,383.28.
• On Monday, September 29th, Bruce Booth sold 66,105 shares of Sionna Therapeutics stock. The stock was sold at an average price of $30.09, for a total transaction of $1,989,099.45.

Sionna Therapeutics Stock Down 0.5%

Shares of NASDAQ:SION opened at $28.35 on Friday. The company has a 50 day moving average of $23.90 and a 200-day moving average of $17.72. Sionna Therapeutics, Inc. has a twelve month low of $7.26 and a twelve month high of $30.60.

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

Institutional Investors Weigh In On Sionna Therapeutics

A number of large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of Sionna Therapeutics during 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 during the second quarter valued at approximately $45,000. The Manufacturers Life Insurance Company raised its holdings in shares of Sionna Therapeutics by 13.4% during the second quarter. The Manufacturers Life Insurance Company now owns 38,038 shares of the company’s stock valued at $660,000 after acquiring an additional 4,489 shares during the period. Virtus Investment Advisers LLC acquired a new stake in shares of Sionna Therapeutics during the second quarter valued at approximately $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Sionna Therapeutics during the second quarter valued at approximately $117,000.

Analyst Ratings Changes

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