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

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 51,500 shares, a decline of 44.5% from the February 28th total of 92,800 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 156,400 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Two Sigma Investments LP acquired a new stake in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,203 shares of the company’s stock, valued at approximately $28,000. Two Sigma Investments LP owned approximately 0.63% of Sonnet BioTherapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.45% of the company’s stock.

Sonnet BioTherapeutics Price Performance

Sonnet BioTherapeutics stock remained flat at $1.31 during midday trading on Friday. 69,524 shares of the company were exchanged, compared to its average volume of 376,991. Sonnet BioTherapeutics has a 12 month low of $1.22 and a 12 month high of $16.80. The stock has a 50-day simple moving average of $1.52 and a two-hundred day simple moving average of $2.39.

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 business had revenue of $1,000 billion during the quarter.

Wall Street Analyst Weigh In

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Sonnet BioTherapeutics in a research note on Friday.

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.