Sionna Therapeutics, Inc.'s Quiet Period To Expire on March 19th (NASDAQ:SION)
Sionna Therapeutics' quiet period will end on March 19th, following its IPO on February 7th, where it issued 10,588,233 shares totaling $190.6 million at an initial price of $18.00. During this period, underwriters and insiders were restricted from issuing research reports. Post-quiet period, brokerages are expected to initiate coverage. Analysts have already set buy ratings, with price targets of $32.00 and $45.00 from Stifel Nicolaus and Guggenheim, respectively. SION stock opened at $16.25, with a 1-year range of $13.20 to $25.19.
Sionna Therapeutics' (NASDAQ:SION - Get Free Report) quiet period is set to expire on Wednesday, March 19th. Sionna Therapeutics had issued 10,588,233 shares in its initial public offering on February 7th. The total size of the offering was $190,588,194 based on an initial share price of $18.00. During Sionna Therapeutics' quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
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Analysts Set New Price Targets
SION has been the subject of several analyst reports. TD Cowen initiated coverage on Sionna Therapeutics in a report on Tuesday, March 4th. They set a "buy" rating for the company. Guggenheim began coverage on shares of Sionna Therapeutics in a research note on Tuesday, March 4th. They set a "buy" rating and a $45.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on shares of Sionna Therapeutics in a research report on Tuesday, March 4th. They issued a "buy" rating and a $32.00 target price on the stock.
View Our Latest Report on SION
Sionna Therapeutics Stock Performance
SION stock opened at $16.25 on Wednesday. Sionna Therapeutics has a 1 year low of $13.20 and a 1 year high of $25.19.
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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