Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Sees Large Growth in Short Interest

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 115,600 shares, an increase of 82.3% from the January 15th total of 63,400 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average trading volume of 1,380,000 shares, the short-interest ratio is presently 0.1 days.

Sonnet BioTherapeutics Stock Down 0.6 %

NASDAQ:SONN traded down $0.01 during trading hours on Thursday, hitting $1.55. The company had a trading volume of 30,541 shares, compared to its average volume of 230,403. Sonnet BioTherapeutics has a 1 year low of $1.41 and a 1 year high of $18.72. The company has a 50-day moving average of $1.65 and a 200 day moving average of $2.25.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Virtu Financial LLC bought a new stake in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 39,647 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned about 1.30% of Sonnet BioTherapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.45% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Chardan Capital decreased their target price on shares of Sonnet BioTherapeutics from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, December 20th.

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.