Sonnet BioTherapeutics (NASDAQ:SONN) Announces Quarterly Earnings Results

Sonnet BioTherapeutics (NASDAQ:SONNGet Rating) released its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02), Fidelity Earnings reports.

SONN traded up $0.01 during trading on Thursday, hitting $0.26. The company had a trading volume of 37,603 shares, compared to its average volume of 5,290,931. The business has a 50-day moving average of $0.35 and a 200-day moving average of $0.42. Sonnet BioTherapeutics has a 1-year low of $0.24 and a 1-year high of $2.07.

A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Sonnet BioTherapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. BTIG Research reduced their target price on shares of Sonnet BioTherapeutics from $5.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, February 9th.

A number of institutional investors and hedge funds have recently bought and sold shares of SONN. Geode Capital Management LLC raised its holdings in Sonnet BioTherapeutics by 126.8% in the fourth quarter. Geode Capital Management LLC now owns 1,126,509 shares of the company’s stock valued at $465,000 after acquiring an additional 629,752 shares in the last quarter. Virtu Financial LLC acquired a new stake in Sonnet BioTherapeutics in the fourth quarter valued at $106,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Sonnet BioTherapeutics by 189.8% during the fourth quarter. Renaissance Technologies LLC now owns 334,730 shares of the company’s stock worth $138,000 after purchasing an additional 219,230 shares during the period. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Sonnet BioTherapeutics Company Profile (Get Rating)

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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Earnings History for Sonnet BioTherapeutics (NASDAQ:SONN)

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