Short Interest in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Drops By 49.4%

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 16,000 shares, a decrease of 49.4% from the June 30th total of 31,600 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 49,400 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, Chardan Capital reiterated a “buy” rating and issued a $30.00 target price on shares of Sonnet BioTherapeutics in a research note on Tuesday, May 28th.

Sonnet BioTherapeutics Price Performance

Shares of NASDAQ SONN traded up $0.01 on Friday, hitting $0.86. The company had a trading volume of 40,221 shares, compared to its average volume of 74,326. Sonnet BioTherapeutics has a 12-month low of $0.82 and a 12-month high of $10.09. The business has a 50 day moving average of $1.25 and a two-hundred day moving average of $1.57.

Sonnet BioTherapeutics (NASDAQ:SONN) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.07 earnings per share for the quarter. Sonnet BioTherapeutics had a negative return on equity of 382.31% and a negative net margin of 11,187.19%. On average, equities analysts anticipate that Sonnet BioTherapeutics will post -2.14 EPS for the current fiscal year.

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.