Sonnet BioTherapeutics’ (SONN) Buy Rating Reiterated at Chardan Capital

Chardan Capital restated their buy rating on shares of Sonnet BioTherapeutics (NASDAQ:SONN) in a research note published on Friday morning,Benzinga reports. The firm currently has a $20.00 target price on the stock.

Sonnet BioTherapeutics Stock Performance

Shares of NASDAQ SONN opened at $1.31 on Friday. Sonnet BioTherapeutics has a 12-month low of $1.22 and a 12-month high of $16.80. The firm has a 50 day moving average of $1.52 and a 200 day moving average of $2.41.

Sonnet BioTherapeutics (NASDAQ:SONN) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($1.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($11.12) by $9.56. The business had revenue of $1,000 billion for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sonnet BioTherapeutics stock. Virtu Financial LLC bought a new position in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 39,647 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned 1.30% of Sonnet BioTherapeutics at the end of the most recent quarter. Institutional investors own 9.45% of the company’s stock.

About Sonnet BioTherapeutics

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.