Sonnet BioTherapeutics (NASDAQ:SONN) Receives Buy Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of Sonnet BioTherapeutics (NASDAQ:SONN) in a research note issued to investors on Friday morning,Benzinga reports. Chardan Capital currently has a $20.00 price target on the stock.

Sonnet BioTherapeutics Stock Performance

Sonnet BioTherapeutics stock opened at $1.31 on Friday. The business’s 50-day simple moving average is $1.52 and its 200 day simple moving average is $2.39. Sonnet BioTherapeutics has a 12-month low of $1.22 and a 12-month high of $16.80.

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

Institutional Trading of Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Virtu Financial LLC purchased a new position in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,647 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned approximately 1.30% of Sonnet BioTherapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 9.45% of the company’s stock.

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.