Sionna Therapeutics (NASDAQ:SION) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Sionna Therapeutics (NASDAQ:SION – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Sionna Therapeutics Stock Performance

Shares of Sionna Therapeutics stock opened at $21.39 on Friday. The firm has a 50-day moving average price of $18.16. Sionna Therapeutics has a one year low of $7.26 and a one year high of $25.19.

Sionna Therapeutics (NASDAQ:SION – Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.27.

Insider Activity at Sionna Therapeutics

In other news, major shareholder Tpg Gp A, Llc purchased 60,000 shares of the business’s stock in a transaction dated Friday, June 27th. The shares were bought at an average cost of $15.84 per share, for a total transaction of $950,400.00. Following the completion of the acquisition, the insider directly owned 6,744,962 shares in the company, valued at approximately $106,840,198.08. This trade represents a 0.90% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Sionna Therapeutics

A number of institutional investors have recently modified their holdings of the company. RA Capital Management L.P. bought a new stake in shares of Sionna Therapeutics in the first quarter valued at about $109,258,000. TPG GP A LLC acquired a new stake in shares of Sionna Therapeutics in the first quarter valued at about $69,925,000. Atlas Venture Life Science Advisors LLC acquired a new stake in shares of Sionna Therapeutics in the first quarter valued at about $38,639,000. Viking Global Investors LP increased its position in shares of Sionna Therapeutics by 8.2% in the second quarter. Viking Global Investors LP now owns 3,195,181 shares of the company’s stock valued at $55,436,000 after acquiring an additional 242,427 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Sionna Therapeutics by 2.4% in the second quarter. JPMorgan Chase & Co. now owns 2,221,188 shares of the company’s stock valued at $38,538,000 after acquiring an additional 51,589 shares during the last quarter.

About Sionna Therapeutics

(Get Free Report)

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.

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