Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Short Interest Down 71.3% in December

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONNGet Free Report) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 62,500 shares, a drop of 71.3% from the December 15th total of 218,100 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is presently 0.0 days. Currently, 2.2% of the company’s stock are sold short.

Sonnet BioTherapeutics Trading Down 2.3 %

Sonnet BioTherapeutics stock traded down $0.04 during midday trading on Tuesday, reaching $1.54. The company’s stock had a trading volume of 80,013 shares, compared to its average volume of 398,011. The stock’s 50-day simple moving average is $2.24 and its 200-day simple moving average is $2.14. Sonnet BioTherapeutics has a 52-week low of $1.41 and a 52-week high of $18.72.

Hedge Funds Weigh In On Sonnet BioTherapeutics

A hedge fund recently bought a new stake in Sonnet BioTherapeutics stock. Armistice Capital LLC acquired a new stake in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONNFree Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 272,000 shares of the company’s stock, valued at approximately $255,000. Armistice Capital LLC owned 8.74% of Sonnet BioTherapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.45% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Chardan Capital reduced their price target on Sonnet BioTherapeutics from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, December 20th.

View Our Latest Research Report on Sonnet BioTherapeutics

About Sonnet BioTherapeutics

(Get Free Report)

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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