Sionna Therapeutics, Inc. (NASDAQ:SION) experienced a decline of 3.9% during trading on Friday, bringing its share price down to approximately $42.09. The stock traded as low as $41.94 at one point, with about 25,132 shares exchanged, marking a significant drop of 89% from its average daily volume of 223,610 shares. This downward trend came after the stock closed at $43.79 on the previous day.
Analysts Weigh In on Sionna’s Performance
Recent analyst evaluations have painted a mixed picture for Sionna Therapeutics. On November 19, BTIG Research initiated coverage with a “buy” rating and a price target of $50.00. Conversely, the Royal Bank of Canada began coverage on September 3, issuing a “sector perform” rating with a price objective of $22.00. Notably, Wall Street Zen downgraded the stock from a “hold” to a “sell” rating on November 15, while Raymond James Financial reaffirmed a “strong-buy” rating earlier in November.
In total, two analysts have assigned a “Strong Buy” rating, four have issued a “Buy” rating, one has designated a “Hold,” and one has given a “Sell” rating. According to data from MarketBeat.com, Sionna currently holds a consensus rating of “Moderate Buy” with an average price target of $40.00.
Sionna’s Earnings and Insider Transactions
The company last reported its quarterly earnings on November 5, revealing a loss of ($0.46) earnings per share, which was better than analysts’ expectations of ($0.52). This performance comes amid notable insider trading activity. On October 21, CEO Michael Cloonan sold 99,800 shares at an average price of $36.26, totaling $3,618,748.00. Following this transaction, Cloonan retained 547,343 shares valued at approximately $19,846,657.18, reflecting a 15.42% decrease in his holdings.
Additionally, on October 24, Ra Capital Management, L.P. sold 311,000 shares at an average price of $39.50, amounting to $12,284,500.00. Post-transaction, the director held 219,867 shares valued at about $8,684,746.50, which represents a significant 58.58% reduction in their ownership. Over the last quarter, insiders have sold a total of 1,613,677 shares valued at $58,533,707, with insiders currently owning 3.90% of the stock.
Institutional investors are also actively buying and selling shares of Sionna Therapeutics. Notably, RA Capital Management L.P. acquired a new position valued at $109,258,000 in the first quarter. Other significant purchases include TPG GP A LLC with a stake worth approximately $69,925,000, and Atlas Venture Life Science Advisors LLC, which invested around $38,639,000. Additionally, Viking Global Investors LP increased its holdings by 8.2% during the second quarter, now owning 3,195,181 shares valued at $55,436,000.
Sionna Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel treatments for cystic fibrosis by normalizing the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein. The company’s mission is to provide meaningful benefits to patients suffering from this condition.
Investors and stakeholders will continue to monitor Sionna Therapeutics as it navigates these fluctuations in stock performance and analyst sentiment.
