Sionna Therapeutics (NASDAQ:SION) Shares Gap Down – Here’s What Happened

Sionna Therapeutics, Inc. (NASDAQ:SION) gapped down before the market opened on Monday . The stock had previously closed at $43.57, but opened at $40.76. Sionna Therapeutics shares last traded at $39.02, with a volume of 67,601 shares changing hands.

Analyst Upgrades and Downgrades

SION has been the topic of several research reports. Jones Trading began 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. Wall Street Zen downgraded shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. BTIG Research started coverage on Sionna Therapeutics in a research report on Wednesday, November 19th. They set a “buy” rating and a $50.00 price objective on the stock. Raymond James Financial reiterated a “strong-buy” rating on shares of Sionna Therapeutics in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sionna Therapeutics in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.33.

Sionna Therapeutics Price Performance

The firm has a market cap of $1.67 billion and a PE ratio of -7.69. The company has a 50-day simple moving average of $34.86 and a 200-day simple moving average of $24.48.

Sionna Therapeutics (NASDAQ:SION) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.06.

Insider Transactions at Sionna Therapeutics

In related news, CEO Michael Cloonan sold 99,800 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $36.26, for a total value of $3,618,748.00. Following the transaction, the chief executive officer owned 547,343 shares of the company’s stock, valued at $19,846,657.18. This trade represents a 15.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce Booth sold 169,260 shares of Sionna Therapeutics stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $32.35, for a total transaction of $5,475,561.00. Following the sale, the director owned 722,301 shares of the company’s stock, valued at $23,366,437.35. The trade was a 18.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,613,677 shares of company stock valued at $58,533,707. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Sionna Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in shares of Sionna Therapeutics during the 3rd quarter worth $30,000. BNP Paribas Financial Markets bought a new position in Sionna Therapeutics during the 2nd quarter worth about $31,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Sionna Therapeutics during the 2nd quarter valued at about $45,000. Virtus Investment Advisers LLC bought a new stake in shares of Sionna Therapeutics in the 2nd quarter valued at about $96,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Sionna Therapeutics in the 2nd quarter valued at about $117,000.

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.