Sonnet BioTherapeutics’ (SONN) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Sonnet BioTherapeutics (NASDAQ:SONN) in a research report released on Friday,Benzinga reports. They currently have a $20.00 price objective on the stock.

Sonnet BioTherapeutics Stock Performance

Shares of SONN stock opened at $1.31 on Friday. Sonnet BioTherapeutics has a 52 week low of $1.22 and a 52 week high of $16.80. The company’s 50 day moving average price is $1.52 and its two-hundred day moving average price is $2.39.

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

Institutional Inflows and Outflows

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) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 39,647 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned about 1.30% of Sonnet BioTherapeutics as of its most recent SEC filing. 9.45% of the stock is currently owned by institutional investors and hedge funds.

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.