Sonnet BioTherapeutics (NASDAQ:SONN) Price Target Increased to $22.00 by Analysts at Chardan Capital

Sonnet BioTherapeutics (NASDAQ:SONNGet Rating) had its price target increased by equities research analysts at Chardan Capital to $22.00 in a report released on Thursday, September 22nd, The Fly reports. The firm currently has a “buy” rating on the stock.

Sonnet BioTherapeutics Trading Up 2.8 %

Shares of Sonnet BioTherapeutics stock traded up $0.04 on Thursday, hitting $1.47. 138,814 shares of the company’s stock were exchanged, compared to its average volume of 320,239. The company has a 50-day simple moving average of $3.14 and a 200-day simple moving average of $3.92. Sonnet BioTherapeutics has a 1 year low of $1.23 and a 1 year high of $10.22.

Sonnet BioTherapeutics (NASDAQ:SONNGet Rating) last released its earnings results on Monday, August 15th. The company reported ($1.82) earnings per share for the quarter. Sonnet BioTherapeutics had a negative net margin of 3,792.35% and a negative return on equity of 243.91%. The firm had revenue of $0.06 million for the quarter. As a group, equities analysts anticipate that Sonnet BioTherapeutics will post -6.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Street Corp increased its holdings in Sonnet BioTherapeutics by 96.8% in the 2nd quarter. State Street Corp now owns 130,288 shares of the company’s stock valued at $36,000 after acquiring an additional 64,100 shares during the last quarter. Advisory Services Network LLC increased its holdings in Sonnet BioTherapeutics by 158.3% in the 2nd quarter. Advisory Services Network LLC now owns 130,525 shares of the company’s stock valued at $37,000 after acquiring an additional 80,000 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Sonnet BioTherapeutics by 438.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,801,200 shares of the company’s stock valued at $677,000 after acquiring an additional 1,466,470 shares during the last quarter. Finally, Campion Asset Management bought a new stake in Sonnet BioTherapeutics in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 5.77% of the company’s stock.

About Sonnet BioTherapeutics

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Sonnet BioTherapeutics Holdings, Inc, a clinical stage oncology-focused biotechnology company, develops platform for biologic medicines of single or bispecific 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.

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