Director Peter A. Thompson filed a Form 4 with the Securities and Exchange Commission disclosing the sale of Sionna Therapeutics, Inc. (NASDAQ: SION) shares on February 2 and 3, 2026. The pair of transactions generated proceeds totaling $1.37 million, with sale prices recorded in a narrow band between $44.57 and $44.58 per share.
According to the filing, on February 2 Thompson sold 1,890 shares of Common Stock at $44.57 per share. The next day, February 3, he sold an additional 29,063 shares at $44.58 per share. After these transactions, Thompson continues to hold an indirect interest in 3,530,702 shares of Sionna Therapeutics.
These insider sales arrive amid notable analyst activity focused on Sionna's clinical programs and valuation. Raymond James has increased its price target on the company to $53.00 from $45.00 while maintaining a Strong Buy rating. The firm cited the potential of Sionna’s NBD1 stabilizers - specifically SION-719 and SION-451 - and pointed to proof-of-concept results that are expected around mid-2026 as a driver for the revision.
By contrast, RBC Capital has reduced its recommendation to Underperform from Sector Perform and left its price target at $24.00. RBC Capital framed the downgrade around valuation concerns, indicating that the company’s recent market value had risen to levels the firm considers overly optimistic. That downgrade followed a period in which Sionna’s shares roughly doubled in value without any commensurate fundamental announcements, according to the firm.
Separately, Raymond James also reiterated a Strong Buy rating and a $45.00 price target following Sionna’s third-quarter 2025 update. The company continues to run two studies involving its NBD1 stabilizers, including a Phase 2a proof-of-concept trial named PreciSION.
The transactions disclosed by Thompson and the split analyst views underscore a period of active reassessment of Sionna’s near-term clinical catalysts and market valuation. The filings and analyst notes reflect concrete, reported actions and published target changes rather than new operational disclosures from the company itself.