Sonnet BioTherapeutics (NASDAQ:SONN) Given New $20.00 Price Target at Chardan Capital

Sonnet BioTherapeutics (NASDAQ:SONN) had its target price decreased by Chardan Capital from $30.00 to $20.00 in a report released on Friday morning,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

Sonnet BioTherapeutics Price Performance

SONN opened at $1.56 on Friday. The business’s fifty day simple moving average is $3.43 and its 200 day simple moving average is $2.12. Sonnet BioTherapeutics has a 52 week low of $1.55 and a 52 week high of $18.72.

Institutional Investors Weigh In On Sonnet BioTherapeutics

A hedge fund recently bought a new stake in Sonnet BioTherapeutics stock. Armistice Capital LLC bought a new position in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 272,000 shares of the company’s stock, valued at approximately $255,000. Armistice Capital LLC owned 8.74% of Sonnet BioTherapeutics at the end of the most recent quarter. 9.45% of the stock is currently owned by institutional investors.

Sonnet BioTherapeutics Company Profile

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.