Sionna Therapeutics (NASDAQ:SION) Sets New 52-Week Low Following Weak Earnings

Shares of Sionna Therapeutics, Inc. (NASDAQ:SION - Get Free Report) hit a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $12.46 and last traded at $13.04, with a volume of 30317 shares changing hands. The stock had previously closed at $13.88.

The company reported ($3.38) EPS for the quarter, missing the consensus estimate of ($2.68) by ($0.70).

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SION shares. TD Cowen began coverage on Sionna Therapeutics in a research report on Tuesday, March 4th. They set a "buy" rating for the company. Stifel Nicolaus began coverage on shares of Sionna Therapeutics in a research report on Tuesday, March 4th. They set a "buy" rating and a $32.00 price target for the company. Finally, Guggenheim assumed coverage on shares of Sionna Therapeutics in a report on Tuesday, March 4th. They issued a "buy" rating and a $45.00 price objective on the stock.

Sionna Therapeutics Stock Up 6.9 %

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.