10 Stocks With At Least $10 Million In Insider Spending Recently

3. Sionna Therapeutics, Inc. (NASDAQ:SION)

Highest Individual Purchase: $18,406,548.00

Number of Purchases Worth Between $10 million and $20 million: 1

Market Capitalization: $583.86 million

Sionna Therapeutics is a biopharmaceutical company focused on developing treatments for cystic fibrosis (CF). The Boston, Massachusetts-headquartered company is dedicated to developing novel medicines that normalize the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein, aiming to provide clinically meaningful benefits to CF patients. Its goal is to develop a range of medicines for individuals with CF that restore CFTR function to near-normal levels.

The company’s co-founders have more than a decade of research in this area, so Sionna is working on advancing a pipeline of small molecules engineered to correct the defects caused by the most common CF genetic mutation.

On February 10, one insider bought $18.41 million worth of Sionna shares at a price of $18 per share. The acquisition was part of the company’s upsized initial public offering, through which it raised $219.2 million. Sionna stated that it plans to use raised capital to advance its CF drug development programs. The stock is currently trading at $13.77 per share.

Given that this stock recently went public, there is limited analyst coverage and no publicly available financial reports at this time.

Sionna is also among the 10 stocks insiders are buying this year.