Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Sees Significant Decrease in Short Interest

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 31,600 shares, a drop of 90.7% from the June 15th total of 338,600 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average trading volume of 36,800 shares, the days-to-cover ratio is presently 0.9 days.

Sonnet BioTherapeutics Stock Performance

SONN stock traded up $0.07 during trading on Thursday, hitting $0.91. 157,376 shares of the stock traded hands, compared to its average volume of 70,326. The firm’s 50 day moving average is $1.48 and its two-hundred day moving average is $1.63. Sonnet BioTherapeutics has a 1 year low of $0.83 and a 1 year high of $10.18.

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

Analysts Set New Price Targets

Separately, Chardan Capital reissued a “buy” rating and set a $30.00 price objective on shares of Sonnet BioTherapeutics in a research report 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.