Sonnet BioTherapeutics (NASDAQ:SONN) Rating Increased to Hold at Wall Street Zen

Sonnet BioTherapeutics (NASDAQ:SONN) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday.

Sonnet BioTherapeutics Stock Down 5.9%

NASDAQ SONN opened at $3.54 on Friday. The company has a 50 day moving average of $3.41 and a 200-day moving average of $2.07. Sonnet BioTherapeutics has a 1-year low of $1.08 and a 1-year high of $19.30.

Sonnet BioTherapeutics (NASDAQ:SONN) last posted 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).

Institutional Trading of Sonnet BioTherapeutics

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

About Sonnet BioTherapeutics

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.