Sonnet BioTherapeutics (NASDAQ:SONN) Shares Down 3.8%

Shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) dropped 3.8% during trading on Tuesday . The company traded as low as $1.77 and last traded at $1.79. Approximately 9,289 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 80,773 shares. The stock had previously closed at $1.86.

Analyst Upgrades and Downgrades

Separately, Chardan Capital lowered their price target on Sonnet BioTherapeutics from $75.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, February 15th.

Sonnet BioTherapeutics Price Performance

The stock’s 50 day moving average price is $1.91 and its 200 day moving average price is $1.64.

Sonnet BioTherapeutics (NASDAQ:SONN) last announced its earnings results on Wednesday, February 14th. The company reported ($0.31) EPS for the quarter. Sonnet BioTherapeutics had a negative net margin of 11,187.19% and a negative return on equity of 519.54%. The business had revenue of $0.02 million for the quarter. On average, sell-side analysts anticipate that Sonnet BioTherapeutics Holdings, Inc. will post -2.27 earnings per share for the current year.

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.