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

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 113,800 shares, a growth of 121.0% from the March 15th total of 51,500 shares. Based on an average daily volume of 128,400 shares, the short-interest ratio is currently 0.9 days. Approximately 3.8% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Chardan Capital reissued a “buy” rating and set a $20.00 price objective on shares of Sonnet BioTherapeutics in a research note on Monday, April 7th.

Sonnet BioTherapeutics Stock Performance

SONN stock opened at $1.26 on Friday. The firm’s 50-day moving average price is $1.39 and its two-hundred day moving average price is $2.38. Sonnet BioTherapeutics has a 12-month low of $1.10 and a 12-month high of $16.00.

Sonnet BioTherapeutics (NASDAQ:SONN) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.56) 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 Trading of Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Two Sigma Investments LP bought 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 and Exchange Commission. The fund bought 19,203 shares of the company’s stock, valued at approximately $28,000. Two Sigma Investments LP owned approximately 0.63% of Sonnet BioTherapeutics at the end of the most recent quarter. Institutional investors and hedge funds 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.