Royal Bank Of Canada Reaffirms Underperform Rating for Sionna Therapeutics (NASDAQ:SION)

Sionna Therapeutics (NASDAQ:SION)‘s stock had its “underperform” rating reiterated by Royal Bank Of Canada in a research note issued on Monday, MarketBeat reports. They currently have a $24.00 price objective on the stock. Royal Bank Of Canada’s target price indicates a potential downside of 38.48% from the company’s current price.

SION has been the topic of several other research reports. Wall Street Zen lowered shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Raymond James Financial reiterated a “strong-buy” rating on shares of Sionna Therapeutics in a research note on Wednesday, November 5th. Jones Trading initiated coverage on shares of Sionna Therapeutics in a report on Monday, September 8th. They set a “buy” rating and a $46.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sionna Therapeutics in a report on Tuesday, November 25th. Finally, BTIG Research initiated coverage on Sionna Therapeutics in a research report on Wednesday, November 19th. They issued a “buy” rating and a $50.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Sionna Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $40.33.

Sionna Therapeutics Trading Up 0.1%

Sionna Therapeutics stock opened at $39.01 on Monday. The business’s 50 day simple moving average is $35.37 and its 200 day simple moving average is $24.84. Sionna Therapeutics has a 12 month low of $7.26 and a 12 month high of $45.00. The company has a market cap of $1.74 billion and a price-to-earnings ratio of -8.01.

Sionna Therapeutics (NASDAQ:SION) last released its earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.06.

Insider Buying and Selling at Sionna Therapeutics

In related news, Director Ra Capital Management, L.P. sold 25,183 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $39.50, for a total value of $994,728.50. Following the sale, the director directly owned 159,033 shares of the company’s stock, valued at $6,281,803.50. This trade represents a 13.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Orbimed Advisors Llc sold 1,600 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $44.49, for a total transaction of $71,184.00. Following the completion of the transaction, the director directly owned 3,596,886 shares in the company, valued at $160,025,458.14. The trade was a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,604,841 shares of company stock valued at $58,312,100 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Sionna Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. RA Capital Management L.P. bought a new stake in Sionna Therapeutics in the 1st quarter worth approximately $109,258,000. TPG GP A LLC purchased a new position in shares of Sionna Therapeutics during the first quarter worth approximately $69,925,000. Atlas Venture Life Science Advisors LLC bought a new stake in shares of Sionna Therapeutics in the 1st quarter worth approximately $38,639,000. Viking Global Investors LP boosted its stake in shares of 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 purchasing an additional 242,427 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Sionna Therapeutics by 2.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,221,188 shares of the company’s stock valued at $38,538,000 after purchasing an additional 51,589 shares in the last quarter.

Sionna Therapeutics Company Profile

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.