Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Sees Large Decline in Short Interest

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 79,700 shares, a decrease 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 currently 0.1 days. Currently, 2.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Virtu Financial LLC acquired a new position in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 39,647 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned approximately 1.30% of Sonnet BioTherapeutics as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 9.45% of the company’s stock.

Sonnet BioTherapeutics Stock Down 2.6 %

Shares of SONN stock opened at $1.51 on Tuesday. Sonnet BioTherapeutics has a 52 week low of $1.38 and a 52 week high of $18.72. The firm has a 50 day moving average of $1.59 and a 200-day moving average of $2.33.

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

Wall Street Analysts Forecast Growth

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

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.