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

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 16,000 shares, a decrease of 49.4% from the June 30th total of 31,600 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 49,400 shares, the short-interest ratio is presently 0.3 days.

Sonnet BioTherapeutics Stock Performance

NASDAQ:SONN traded up $0.01 during trading hours on Friday, reaching $0.86. The company had a trading volume of 40,221 shares, compared to its average volume of 74,326. The stock has a 50-day moving average of $1.25 and a two-hundred day moving average of $1.57. Sonnet BioTherapeutics has a one year low of $0.82 and a one year high of $10.09.

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

Analysts Set New Price Targets

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