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

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

Sonnet BioTherapeutics Trading Down 1.5 %

Shares of NASDAQ:SONN opened at $1.31 on Friday. Sonnet BioTherapeutics has a 1 year low of $1.25 and a 1 year high of $16.80. The business has a fifty day simple moving average of $1.53 and a 200 day simple moving average of $2.38.

Sonnet BioTherapeutics (NASDAQ:SONN) last issued 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 firm had revenue of $1,000 billion during the quarter.

Institutional Trading of Sonnet BioTherapeutics

A hedge fund recently bought a new stake in Sonnet BioTherapeutics stock. Virtu Financial LLC acquired a new stake in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 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 quarter. 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.