Chardan Capital Reiterates “Buy” Rating for Sonnet BioTherapeutics (NASDAQ:SONN)

Sonnet BioTherapeutics (NASDAQ:SONN)‘s stock had its “buy” rating reaffirmed by Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $20.00 target price on the stock.

Sonnet BioTherapeutics Trading Down 1.5 %

Shares of SONN stock opened at $1.31 on Friday. Sonnet BioTherapeutics has a 12 month low of $1.25 and a 12 month high of $16.80. The business’s 50 day moving average is $1.53 and its two-hundred day moving average is $2.38.

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

Hedge Funds Weigh In On Sonnet BioTherapeutics

A hedge fund recently bought a new stake in Sonnet BioTherapeutics stock. Two Sigma Investments LP bought a new stake in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 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 SEC filing. 9.45% of the stock is currently owned by institutional investors.

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.