Short Interest in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Decreases By 15.7%

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 344,300 shares, a decline of 15.7% from the May 15th total of 408,400 shares. Approximately 12.2% of the company’s stock are short sold. Based on an average daily volume of 84,700 shares, the days-to-cover ratio is presently 4.1 days.

Sonnet BioTherapeutics Stock Down 4.1 %

NASDAQ:SONN opened at $1.65 on Monday. Sonnet BioTherapeutics has a 12 month low of $1.08 and a 12 month high of $26.40. The firm’s 50 day moving average is $1.77 and its 200 day moving average is $1.70.

Sonnet BioTherapeutics (NASDAQ:SONN) last issued its earnings results on Tuesday, May 14th. The company reported $0.07 earnings per share (EPS) for the quarter. Sonnet BioTherapeutics had a negative return on equity of 382.31% and a negative net margin of 11,187.19%. As a group, equities research analysts anticipate that Sonnet BioTherapeutics will post -2.14 earnings per share for the current year.

Analyst Ratings Changes

Separately, Chardan Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of Sonnet BioTherapeutics in a research note on Tuesday, May 28th.

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.