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

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the target of a large decrease in short interest in 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. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 983,500 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, Chardan Capital reduced their price objective 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.

Sonnet BioTherapeutics Trading Down 4.0 %

Shares of NASDAQ SONN opened at $1.45 on Wednesday. The firm’s fifty day moving average is $1.59 and its two-hundred day moving average is $2.33. Sonnet BioTherapeutics has a 52-week low of $1.30 and a 52-week high of $18.72.

Sonnet BioTherapeutics (NASDAQ:SONN) last issued 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.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Virtu Financial LLC purchased a new stake in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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 SEC filing. 9.45% of the stock is currently owned by hedge funds and other 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.