Wedbush Initiates Coverage of Sionna Therapeutics (SION)

Sionna Therapeutics, Inc. (NASDAQ:SION) is one of the best small cap stocks to buy for 10x potential. Wedbush initiated coverage of Sionna Therapeutics, Inc. (NASDAQ:SION) with an Outperform rating on May 4, setting a price target of $53. The firm told investors in a research note that the company is continually focusing on the development of the next-generation CFTR modulators that stabilise the NBD1 domain. Wedbush believes that Sionna Therapeutics, Inc.’s (NASDAQ:SION) summer data readouts are on track, including the Phase 2a PreciSION for SION-719 and Phase 1 SION-451 data, and it sees “strong rationale” for targeting the NBD1 domain.

Sionna Therapeutics, Inc. (NASDAQ:SION) also received a rating update from JonesResearch on April 28. The firm lifted the price target on the stock to $63 from $52 and maintained a Buy rating on the shares. The rating update came after the company announced the completion of enrollment in the Phase 2a PreciSION study, with data expected this summer. It told investors in a research note that the attainment of additive sweat chloride reduction on SION-719 versus Trikafta alone will establish the potency of NBD1 stabilization, while also validating the predictive power of Sionna’s CFHBE assay and boosting confidence in SION-451 combos.

Sionna Therapeutics, Inc. (NASDAQ:SION) is a clinical-stage biopharmaceutical company involved in the research, development, and commercialization of novel medicines for cystic fibrosis.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.