Sonnet BioTherapeutics (NASDAQ:SONN) Earns “Buy” Rating from Chardan Capital

Sonnet BioTherapeutics (NASDAQ:SONN)‘s stock had its “buy” rating reiterated by Chardan Capital in a research note issued to investors on Monday,Benzinga reports. They currently have a $20.00 target price on the stock.

Sonnet BioTherapeutics Stock Up 4.2 %

NASDAQ SONN opened at $1.25 on Monday. The business has a 50 day simple moving average of $1.45 and a 200 day simple moving average of $2.42. Sonnet BioTherapeutics has a one year low of $1.10 and a one year high of $16.80.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sonnet BioTherapeutics stock. Two Sigma Investments LP bought a new position in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 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. 9.45% of the stock is owned by institutional investors.

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.