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

Sonnet BioTherapeutics (NASDAQ:SONN)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research report issued on Monday,Benzinga reports. They presently have a $20.00 price objective on the stock.

Sonnet BioTherapeutics Stock Down 1.6 %

Shares of NASDAQ SONN opened at $1.25 on Monday. The firm’s fifty day moving average is $1.48 and its 200 day moving average is $2.42. Sonnet BioTherapeutics has a 52 week low of $1.19 and a 52 week high of $16.80.

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

Hedge Funds Weigh In On Sonnet BioTherapeutics

A hedge fund recently bought a new stake in Sonnet BioTherapeutics stock. Virtu Financial LLC acquired a new stake in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 39,647 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned 1.30% of Sonnet BioTherapeutics at the end of the most recent quarter. 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.