Sonnet BioTherapeutics (NASDAQ:SONN – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.06, Zacks reports. Sonnet BioTherapeutics had a negative return on equity of 382.31% and a negative net margin of 11,187.19%.
Sonnet BioTherapeutics Stock Down 18.8 %
Shares of NASDAQ:SONN opened at $0.66 on Friday. Sonnet BioTherapeutics has a 12 month low of $0.62 and a 12 month high of $8.19. The company has a 50-day moving average price of $0.99 and a 200 day moving average price of $1.50.
Analysts Set New Price Targets
Separately, Chardan Capital reissued a “buy” rating and issued a $30.00 target price on shares of Sonnet BioTherapeutics in a report on Tuesday, May 28th.
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.
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