Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Short Interest Down 31.1% in February

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 79,700 shares, a drop of 31.1% from the January 31st total of 115,600 shares. Based on an average daily trading volume, of 983,500 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.6% of the company’s stock are short sold.

Institutional Investors Weigh In On 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 the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,203 shares of the company’s stock, valued at approximately $28,000. Two Sigma Investments LP owned about 0.63% of Sonnet BioTherapeutics as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 9.45% of the company’s stock.

Sonnet BioTherapeutics Stock Down 2.6 %

NASDAQ:SONN opened at $1.51 on Tuesday. The stock’s 50 day moving average price is $1.59 and its two-hundred day moving average price is $2.33. Sonnet BioTherapeutics has a twelve month low of $1.38 and a twelve month high of $18.72.

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 business had revenue of $1,000 billion during the quarter.

Analyst Upgrades and Downgrades

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

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.