Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Short Interest Up 16.4% in February

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 92,800 shares, an increase of 16.4% from the February 13th total of 79,700 shares. Based on an average daily trading volume, of 978,200 shares, the short-interest ratio is currently 0.1 days. Approximately 3.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Chardan Capital dropped 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.

Institutional Trading of Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Two Sigma Investments LP purchased a new stake in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,203 shares of the company’s stock, valued at approximately $28,000. Two Sigma Investments LP owned 0.63% of Sonnet BioTherapeutics at the end of the most recent reporting period. 9.45% of the stock is currently owned by hedge funds and other institutional investors.

Sonnet BioTherapeutics Stock Performance

SONN opened at $1.40 on Thursday. Sonnet BioTherapeutics has a 1 year low of $1.30 and a 1 year high of $18.13. The stock’s 50 day simple moving average is $1.55 and its 200-day simple moving average is $2.37.

Sonnet BioTherapeutics (NASDAQ:SONN) last released its quarterly earnings data on Thursday, February 13th. The company reported ($1.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($11.12) by $9.56. The firm had revenue of $1,000 billion for the quarter.

Sonnet BioTherapeutics Company Profile

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.