Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN – Get Free Report) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 62,500 shares, a decline of 71.3% from the December 15th total of 218,100 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 2.2% of the company’s stock are short sold.
Analyst Ratings Changes
Separately, Chardan Capital dropped their price target on shares of Sonnet BioTherapeutics from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, December 20th.
Read Our Latest Stock Report on Sonnet BioTherapeutics
Sonnet BioTherapeutics Price Performance
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Armistice Capital LLC bought a new position in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 272,000 shares of the company’s stock, valued at approximately $255,000. Armistice Capital LLC owned approximately 8.74% of Sonnet BioTherapeutics as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 9.45% of the company’s stock.
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.
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