In yesterday’s Wall Street session, Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN) shares traded at $0.29, up 3.21% from the previous session.
As of this writing, 2 analysts cover Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $6.70, we find $10.35. Given the previous closing price of $0.28, this indicates a potential upside of 3596.43 percent. SONN stock price is now -15.30% away from the 50-day moving average and -77.55% away from the 200-day moving average. The market capitalization of the company currently stands at $8.46M.
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There are 0 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $10.35 as their price target over the next twelve months.
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In other news, Bhatt Nailesh, Director bought 25,000 shares of the company’s stock on May 17. The stock was bought for $5,800 at an average price of $0.23. Upon completion of the transaction, the Director now directly owns 30,733 shares in the company, valued at $8912.57. An SEC document containing details of the transaction can be found on the SEC’s website. On May 15, Chairman, President and CEO Mohan Pankaj bought 371,600 shares of the business’s stock. A total of $82,867 was incurred on buying the stock at an average price of $0.22. This leaves the insider owning 553,331 shares of the company worth $0.16 million. Insiders disposed of 123,823 shares of company stock worth roughly $35908.67 over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SONN stock. A new stake in Sonnet BioTherapeutics Holdings Inc. shares was purchased by ANSON FUNDS MANAGEMENT LP during the first quarter worth $1,017,000. WALLEYE CAPITAL LLC invested $481,000 in shares of SONN during the first quarter. In the first quarter, SABBY MANAGEMENT, LLC acquired a new stake in Sonnet BioTherapeutics Holdings Inc. valued at approximately $351,000. ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in SONN for approximately $275,000. AYRTON CAPITAL LLC purchased a new stake in SONN valued at around $221,000 in the second quarter. In total, there are 14 active investors with 3.50% ownership of the company’s stock.
Wednesday morning saw Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) opened at $0.2908. During the past 12 months, Sonnet BioTherapeutics Holdings Inc. has had a low of $0.20 and a high of $4.56. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.70, and a quick ratio of 1.70. The fifty day moving average price for SONN is $0.3352 and a two-hundred day moving average price translates $1.2697 for the stock.
The latest earnings results from Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.34, beating analysts’ expectations of -$0.49 by 0.15. This compares to -$1.91 EPS in the same period last year. The company reported revenue of $36000.0 for the quarter, compared to $95000.0 a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -62.11 percent.
Sonnet BioTherapeutics Holdings Inc.(SONN) Company Profile
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. Its lead product candidate is SON-1010, a fully human version of interleukin 12 for the treatment non-small cell lung cancer, and head and neck cancer and is under phase 1 trial. The company is also developing SON-080, a fully human version of interleukin 6 for chemotherapy-induced peripheral neuropathy and diabetic peripheral neuropathy and is under Phase Ib/IIa study; and SON-1210, a bispecific compound developed for solid tumor indications, including colorectal cancer. It has a license agreement with New Life Therapeutics Pte, LTD. to develop and commercialize pharmaceutical preparations containing a specific recombinant human interleukin-6. The company is headquartered in Princeton, New Jersey.
