Sionna Therapeutics (NASDAQ:SION) Stock Price Down 5.3% – Should You Sell?

Sionna Therapeutics, Inc. (NASDAQ:SION) shares fell 5.3% during mid-day trading on Monday . The company traded as low as $15.99 and last traded at $16.31. 92,916 shares were traded during trading, a decline of 49% from the average session volume of 183,939 shares. The stock had previously closed at $17.22.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SION. Stifel Nicolaus assumed coverage on Sionna Therapeutics in a research report on Tuesday, March 4th. They issued a “buy” rating and a $32.00 price target on the stock. Guggenheim assumed coverage on Sionna Therapeutics in a research note on Tuesday, March 4th. They set a “buy” rating and a $45.00 price target for the company. Wall Street Zen lowered shares of Sionna Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, TD Cowen initiated coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They issued a “buy” rating on the stock.

Sionna Therapeutics Price Performance

The stock’s fifty day simple moving average is $12.17.

Sionna Therapeutics (NASDAQ:SION) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.17).

Institutional Investors Weigh In On Sionna Therapeutics

Institutional investors have recently modified their holdings of the company. Zimmer Partners LP acquired a new position in shares of Sionna Therapeutics during the 1st quarter worth $2,484,000. Alyeska Investment Group L.P. acquired a new stake in Sionna Therapeutics in the 1st quarter valued at $1,948,000. Charles Schwab Investment Management Inc. bought a new position in shares of Sionna Therapeutics during the first quarter worth about $676,000. RA Capital Management L.P. acquired a new stake in Sionna Therapeutics during the first quarter valued at approximately $109,258,000. Finally, Baker BROS. Advisors LP acquired a new position in Sionna Therapeutics in the first quarter worth $4,184,000.

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.