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Director Bruce Booth indirectly disposed of shares of Sionna Therapeutics Inc (NASDAQ:SION) between October 16 and October 20. The sales, executed under 10b5-1 trading plans, involved multiple transactions with prices ranging from $30.15 to $33.47. The stock, currently trading at $32.20, has shown remarkable strength with a 182.57% gain over the past six months and is trading near its 52-week high of $34. InvestingPro analysis indicates the stock is trading above its Fair Value.
According to a Form 4 filing with the Securities and Exchange Commission, the total value of shares sold indirectly by Atlas Venture Fund XI, L.P. totaled $7,646,230.
Additionally, shares sold indirectly by Atlas Venture Opportunity Fund II, L.P. were valued at $1,604,871.
In other recent news, Sionna Therapeutics has made several notable advancements. The company has initiated a Phase 1 trial for its novel cystic fibrosis treatment combinations, dosing the first subjects to evaluate safety, tolerability, and pharmacokinetics. This trial includes the use of SION-451 in combination with two other compounds, SION-2222 and SION-109. Guggenheim has reiterated its Buy rating for Sionna Therapeutics, maintaining a price target of $45, following the company’s positive topline Phase I safety and pharmacokinetic data. Freedom Capital Markets also initiated coverage with a Buy rating, setting a $38 price target, while RBC Capital began coverage with a Sector Perform rating and a $22 price target. Analysts from RBC Capital suggest Sionna’s CFTR modulators could position the company as a key player in the cystic fibrosis space long-term. These developments highlight the company’s ongoing efforts and potential in advancing treatments for cystic fibrosis.
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