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

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

Sionna Therapeutics Price Performance

Shares of SION stock opened at $35.08 on Thursday. The company has a market cap of $1.55 billion and a price-to-earnings ratio of -7.95. The stock has a 50 day simple moving average of $29.50 and a 200-day simple moving average of $21.19. Sionna Therapeutics has a 1-year low of $7.26 and a 1-year high of $43.19.

Insider Activity at Sionna Therapeutics

In related news, CEO Michael Cloonan sold 99,800 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $36.26, for a total value of $3,618,748.00. Following the completion of the transaction, the chief executive officer directly owned 547,343 shares of the company’s stock, valued at approximately $19,846,657.18. This represents a 15.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. sold 311,000 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $39.50, for a total value of $12,284,500.00. Following the completion of the transaction, the director directly owned 219,867 shares of the company’s stock, valued at approximately $8,684,746.50. This represents a 58.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,280,028 shares of company stock valued at $43,449,735. 3.90% of the stock is owned by insiders.

Institutional Trading of Sionna Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Viking Global Investors LP grew its holdings in 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 buying an additional 242,427 shares in the last quarter. Soleus Capital Management L.P. grew its holdings 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 buying an additional 136,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in Sionna Therapeutics by 113.4% in the 2nd quarter. Geode Capital Management LLC now owns 289,275 shares of the company’s stock valued at $5,020,000 after buying an additional 153,712 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Sionna Therapeutics by 13.2% during 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 last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Sionna Therapeutics during the 1st quarter worth about $837,000.

Wall Street Analyst Weigh In

SION has been the topic of a number of recent research reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Sionna Therapeutics in a research report on Wednesday. Wall Street Zen upgraded Sionna Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Jones Trading started coverage on Sionna Therapeutics in a report on Monday, September 8th. They issued a “buy” rating and a $46.00 price target for the company. Royal Bank Of Canada started coverage on Sionna Therapeutics in a report on Wednesday, September 3rd. They issued a “sector perform” rating and a $22.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sionna Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.