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

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 20,800 shares, a growth of 61.2% from the September 30th total of 12,900 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average daily volume of 27,500 shares, the short-interest ratio is presently 0.8 days.

Sonnet BioTherapeutics Stock Performance

Shares of NASDAQ SONN opened at $6.01 on Friday. Sonnet BioTherapeutics has a one year low of $4.37 and a one year high of $18.72. The business has a 50-day moving average price of $2.69 and a two-hundred day moving average price of $1.81.

Sonnet BioTherapeutics (NASDAQ:SONN) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.06. As a group, analysts anticipate that Sonnet BioTherapeutics will post -12.88 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Chardan Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of Sonnet BioTherapeutics in a research report on Friday, August 23rd.

Hedge Funds Weigh In On Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Armistice Capital LLC acquired a new stake in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 272,000 shares of the company’s stock, valued at approximately $255,000. Armistice Capital LLC owned about 8.74% of Sonnet BioTherapeutics at the end of the most recent quarter. Institutional investors and hedge funds 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.