Sionna Therapeutics (NASDAQ:SION) Stock Price Down 1% – Time to Sell?

Sionna Therapeutics, Inc. (NASDAQ:SION)’s share price dropped 1% during trading on Thursday. The stock traded as low as $3.97 and last traded at $4.00. 574,984 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,064,678 shares. The stock had previously closed at $4.04.

Analyst Ratings Changes

SION has been the topic of several recent research reports. Wall Street Zen lowered Sionna Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Lifesci Capital lowered shares of Sionna Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wedbush upped their target price on shares of Sionna Therapeutics from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, September 15th. Raymond James Financial cut shares of Sionna Therapeutics from a “strong-buy” rating to a “market perform” rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada upgraded Sionna Therapeutics from an “underperform” rating to a “sector perform” rating and set a $5.00 price objective on the stock in a research note on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sionna Therapeutics presently has an average rating of “Hold” and an average target price of $42.33.

Sionna Therapeutics Price Performance

The stock has a market capitalization of $174.96 million, a P/E ratio of -1.78 and a beta of 1.00. The company’s 50 day simple moving average is $5.45 and its two-hundred day simple moving average is $30.10.

Sionna Therapeutics (NASDAQ:SION) last posted its earnings results on Thursday, August 6th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.02). On average, research analysts anticipate that Sionna Therapeutics, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Sionna Therapeutics

In other Sionna Therapeutics news, Director Ra Capital Management, L.P. sold 3,448,811 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $6.33, for a total value of $21,830,973.63. Following the transaction, the director owned 3,448,812 shares of the company’s stock, valued at approximately $21,830,979.96. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Sionna Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Sionna Therapeutics in the second quarter valued at about $64,875,000. Jennison Associates LLC increased its position in Sionna Therapeutics by 30.1% in the first quarter. Jennison Associates LLC now owns 1,451,220 shares of the company’s stock worth $58,179,000 after purchasing an additional 335,942 shares during the period. Candriam S.C.A. bought a new stake in Sionna Therapeutics during the 1st quarter worth about $9,494,000. Artia Global Partners LP acquired a new position in Sionna Therapeutics during the 2nd quarter valued at about $5,267,000. Finally, Walleye Capital LLC bought a new position in shares of Sionna Therapeutics in the 2nd quarter valued at about $4,282,000.

Sionna Therapeutics Company Profile

Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for cystic fibrosis (CF), a genetic disorder that affects the lungs and other organs. The company is working to address the underlying cause of CF by developing small-molecule therapies designed to improve the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein.

Sionna’s research centers on the nucleotide-binding domain 1 (NBD1) of CFTR, which plays an important role in the protein’s structure and activity.