Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN – Get Free Report) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 557,500 shares, a growth of 119.4% from the February 29th total of 254,100 shares. Currently, 20.1% of the shares of the company are short sold. Based on an average trading volume of 109,000 shares, the short-interest ratio is presently 5.1 days.
Wall Street Analyst Weigh In
Separately, Chardan Capital dropped their price objective on Sonnet BioTherapeutics from $75.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, February 15th.
View Our Latest Research Report on SONN
Hedge Funds Weigh In On Sonnet BioTherapeutics
Sonnet BioTherapeutics Trading Down 6.4 %
Shares of NASDAQ SONN traded down $0.13 during midday trading on Thursday, hitting $1.90. 53,924 shares of the stock traded hands, compared to its average volume of 108,005. Sonnet BioTherapeutics has a one year low of $1.08 and a one year high of $26.40. The business has a 50 day moving average price of $1.71 and a two-hundred day moving average price of $1.86.
Sonnet BioTherapeutics (NASDAQ:SONN – Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.31) EPS for the quarter. Sonnet BioTherapeutics had a negative net margin of 11,187.19% and a negative return on equity of 519.54%. The firm had revenue of $0.02 million for the quarter. As a group, equities analysts expect that Sonnet BioTherapeutics will post -2.27 earnings per share for the current fiscal year.
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.
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