Chardan Capital Reaffirms Buy Rating for Sonnet BioTherapeutics (NASDAQ:SONN)

Sonnet BioTherapeutics (NASDAQ:SONN)‘s stock had its “buy” rating reiterated by investment analysts at Chardan Capital in a research report issued on Friday,Benzinga reports. They presently have a $20.00 price objective on the stock.

Sonnet BioTherapeutics Stock Performance

NASDAQ:SONN opened at $1.31 on Friday. The stock has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $2.40. Sonnet BioTherapeutics has a 1-year low of $1.22 and a 1-year high of $16.80.

Sonnet BioTherapeutics (NASDAQ:SONN) last announced its earnings results on Thursday, February 13th. The company reported ($1.56) EPS 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. Two Sigma Investments LP acquired a new position in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 19,203 shares of the company’s stock, valued at approximately $28,000. Two Sigma Investments LP owned approximately 0.63% of Sonnet BioTherapeutics at the end of the most recent quarter. 9.45% of the stock is currently owned by institutional investors and hedge funds.

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.