Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN) shares traded -8.71% lower at $0.35 on Wall Street last session.
In accordance with the data, 3 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 $12.00 and a low of $2.00, we find $6.70. Given the previous closing price of $0.38, this indicates a potential upside of 1663.16 percent. SONN stock price is now -26.59% away from the 50-day moving average and -52.96% away from the 200-day moving average. The market capitalization of the company currently stands at $13.67M.
It has been rated a hold by 0 analysts and a buy by 3. Brokers who have rated the stock have averaged $6.90 as their price target over the next twelve months.
In other news, Dexter Susan, Chief Technical Officer bought 10,000 shares of the company’s stock on Jun 14. The stock was bought for $7,000 at an average price of $0.70. Upon completion of the transaction, the Chief Technical Officer now directly owns 33,667 shares in the company, valued at $11783.45. An SEC document containing details of the transaction can be found on the SEC’s website. On May 30, Director Dyrness Albert D. bought 23,255 shares of the business’s stock. A total of $10,883 was incurred on buying the stock at an average price of $0.47. This leaves the insider owning 28,962 shares of the company worth $10136.7. Insiders disposed of 123,823 shares of company stock worth roughly $43338.049999999996 over the past 1 year. A total of 16.74% 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 STATE STREET CORP during the first quarter worth $33,000. VIRTU FINANCIAL LLC invested $30,000 in shares of SONN during the first quarter. In the first quarter, TWO SIGMA SECURITIES, LLC acquired a new stake in Sonnet BioTherapeutics Holdings Inc. valued at approximately $24,000. MCCOLLUM CHRISTOFERSON GROUP LLC acquired a new stake in SONN for approximately $14,000. JPMORGAN CHASE & CO purchased a new stake in SONN valued at around $10,000 in the second quarter. In total, there are 19 active investors with 3.50% ownership of the company’s stock.
Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) opened at $0.3562 on Thursday. During the past 12 months, Sonnet BioTherapeutics Holdings Inc. has had a low of $0.20 and a high of $4.20. 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 $0.4696 and a two-hundred day moving average price translates $0.7333 for the stock.
The latest earnings results from Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.13, beating analysts’ expectations of -$0.31 by 0.18. This compares to -$1.82 EPS in the same period last year. The company reported revenue of $37000.0 for the quarter, compared to $62000.0 a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -40.32 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.
