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

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 115,600 shares, a growth of 82.3% from the January 15th total of 63,400 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,380,000 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital lowered their price objective 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.

Sonnet BioTherapeutics Trading Down 0.6 %

Shares of NASDAQ SONN traded down $0.01 during trading on Thursday, reaching $1.55. The stock had a trading volume of 30,541 shares, compared to its average volume of 230,403. Sonnet BioTherapeutics has a fifty-two week low of $1.41 and a fifty-two week high of $18.72. The business’s 50-day moving average price is $1.65 and its 200-day moving average price is $2.25.

Hedge Funds Weigh In On Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Virtu Financial LLC acquired a new stake in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 39,647 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned 1.30% 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.

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.