Sionna Therapeutics, Inc. (NASDAQ:SION) Receives $38.00 Average Price Target from Analysts

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $38.00.

SION has been the subject of several analyst reports. Raymond James Financial initiated coverage on Sionna Therapeutics in a research report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price objective for the company. Jones Trading started coverage on Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 target price on the stock. Wall Street Zen raised Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Sionna Therapeutics in a report on Saturday, September 27th. Finally, Royal Bank Of Canada started coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They set a “sector perform” rating and a $22.00 target price on the stock.

Sionna Therapeutics Trading Up 2.4%

Shares of NASDAQ SION opened at $30.01 on Friday. The stock has a 50 day simple moving average of $23.06 and a 200-day simple moving average of $17.32. Sionna Therapeutics has a 12-month low of $7.26 and a 12-month high of $30.60.

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

Insider Buying and Selling

In related news, Director Bruce Booth sold 12,388 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $30.06, for a total transaction of $372,383.28. Following the sale, the director owned 794,110 shares of the company’s stock, valued at $23,870,946.60. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Ridloff sold 8,836 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.08, for a total value of $221,606.88. Following the sale, the chief financial officer directly owned 38,532 shares in the company, valued at approximately $966,382.56. The trade was a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 161,693 shares of company stock valued at $4,562,017 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SION. Jennison Associates LLC bought a new position in shares of Sionna Therapeutics in the first quarter valued at $8,995,000. TD Asset Management Inc bought a new position in shares of Sionna Therapeutics in the first quarter valued at $579,000. Charles Schwab Investment Management Inc. bought a new position in shares of Sionna Therapeutics in the first quarter valued at $676,000. CenterBook Partners LP bought a new position in shares of Sionna Therapeutics in the first quarter valued at $1,195,000. Finally, Aberdeen Group plc bought a new position in shares of Sionna Therapeutics in the first quarter valued at $7,803,000.

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.