TD Asset Management Inc Reduces Stake in Sionna Therapeutics, Inc. $SION

TD Asset Management Inc reduced its stake in Sionna Therapeutics, Inc. (NASDAQ:SION) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,966 shares of the company’s stock after selling 5,400 shares during the quarter. TD Asset Management Inc’s holdings in Sionna Therapeutics were worth $867,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SION. Jennison Associates LLC purchased a new stake in Sionna Therapeutics in the 1st quarter valued at $8,995,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Sionna Therapeutics during the 1st quarter worth $676,000. CenterBook Partners LP purchased a new position in shares of Sionna Therapeutics during the 1st quarter worth $1,195,000. Aberdeen Group plc purchased a new position in shares of Sionna Therapeutics during the 1st quarter worth $7,803,000. Finally, Atlas Venture Life Science Advisors LLC purchased a new position in shares of Sionna Therapeutics during the 1st quarter worth $38,639,000.

Insider Buying and Selling

In related news, CEO Michael Cloonan sold 99,800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $36.26, for a total transaction of $3,618,748.00. Following the transaction, the chief executive officer owned 547,343 shares in the company, 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 available through the SEC website. Also, Director Bruce Booth sold 169,260 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $32.35, for a total value of $5,475,561.00. Following the transaction, the director owned 722,301 shares in the company, valued at $23,366,437.35. This represents a 18.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 906,418 shares of company stock worth $28,687,131 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SION. Weiss Ratings reiterated a “sell (d)” rating on shares of Sionna Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded Sionna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Raymond James Financial began coverage on Sionna Therapeutics in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $45.00 price target 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 price target for the company. Finally, Royal Bank Of Canada started coverage on Sionna Therapeutics in a research report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price target on the stock. One research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Sionna Therapeutics Price Performance

Shares of NASDAQ SION opened at $38.90 on Thursday. Sionna Therapeutics, Inc. has a fifty-two week low of $7.26 and a fifty-two week high of $43.19. The stock’s 50-day simple moving average is $26.55 and its 200-day simple moving average is $19.06.

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

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.