Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Short Interest Update

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 79,700 shares, a decline of 31.1% from the January 31st total of 115,600 shares. Based on an average daily volume of 983,500 shares, the short-interest ratio is presently 0.1 days. Approximately 2.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Chardan Capital cut their target price on shares of Sonnet BioTherapeutics from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, December 20th.

Sonnet BioTherapeutics Stock Down 2.6 %

Shares of NASDAQ SONN traded down $0.04 during mid-day trading on Monday, hitting $1.51. The company had a trading volume of 26,196 shares, compared to its average volume of 190,697. The business’s 50-day simple moving average is $1.59 and its 200 day simple moving average is $2.32. Sonnet BioTherapeutics has a 1-year low of $1.38 and a 1-year high of $18.72.

Sonnet BioTherapeutics (NASDAQ:SONN) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($1.56) earnings per share for the quarter, topping the consensus estimate of ($11.12) by $9.56. The company had revenue of $1,000 billion for the quarter.

Institutional Trading of Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Two Sigma Investments LP purchased a new position in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,203 shares of the company’s stock, valued at approximately $28,000. Two Sigma Investments LP owned approximately 0.63% of Sonnet BioTherapeutics as of its most recent SEC filing. 9.45% of the stock is currently owned by institutional investors.

Sonnet BioTherapeutics Company Profile

Sonnet BioTherapeutics Holdings, Inc, a biotechnology company, owns a platform for biologic medicines of single or bifunctional action. The company develops fully human albumin binding technology, which utilizes human single chain antibodies fragment that binds to and hitch-hikes on human serum albumin for transport to target tissues.