Sonnet BioTherapeutics (NASDAQ:SONN) Earns “Sell (D-)” Rating from Weiss Ratings

Sonnet BioTherapeutics (NASDAQ:SONN)‘s stock had its “sell (d-)” rating reissued by research analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen raised shares of Sonnet BioTherapeutics to a “hold” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

Sonnet BioTherapeutics Stock Performance

NASDAQ SONN opened at $4.94 on Friday. The firm’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $3.13. The stock has a market cap of $33.74 million, a PE ratio of -0.61 and a beta of 1.34. Sonnet BioTherapeutics has a fifty-two week low of $1.08 and a fifty-two week high of $19.30.

Sonnet BioTherapeutics (NASDAQ:SONN) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.46).

Hedge Funds Weigh In On Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. MMCAP International Inc. SPC bought a new stake in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 133,590 shares of the company’s stock, valued at approximately $179,000. MMCAP International Inc. SPC owned 4.36% of Sonnet BioTherapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 9.45% of the company’s stock.

Sonnet BioTherapeutics Company Profile

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.