Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Short Interest Up 16.4% in February

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 92,800 shares, a growth of 16.4% from the February 13th total of 79,700 shares. Based on an average trading volume of 978,200 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.1% of the company’s stock are sold short.

Sonnet BioTherapeutics Trading Up 0.7 %

Shares of Sonnet BioTherapeutics stock opened at $1.40 on Thursday. Sonnet BioTherapeutics has a 52-week low of $1.30 and a 52-week high of $18.13. The stock has a 50-day simple moving average of $1.55 and a 200-day simple moving average of $2.37.

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

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 position in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 19,203 shares of the company’s stock, valued at approximately $28,000. Two Sigma Investments LP owned 0.63% of Sonnet BioTherapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 9.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Chardan Capital decreased their price objective on 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 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.