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

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 92,800 shares, a growth of 16.4% from the February 13th total of 79,700 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average trading volume of 978,200 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Sonnet BioTherapeutics

A hedge fund recently bought a new stake 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 SEC. The firm 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 owned by institutional investors and hedge funds.

Sonnet BioTherapeutics Stock Performance

Shares of NASDAQ SONN opened at $1.38 on Wednesday. The company’s 50 day simple moving average is $1.55 and its 200 day simple moving average is $2.38. Sonnet BioTherapeutics has a fifty-two week low of $1.30 and a fifty-two week high of $18.62.

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

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.