Chardan Capital Has Lowered Expectations for Sonnet BioTherapeutics (NASDAQ:SONN) Stock Price

Sonnet BioTherapeutics (NASDAQ:SONN) had its price objective lowered by Chardan Capital from $30.00 to $20.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Sonnet BioTherapeutics Stock Down 1.9 %

SONN opened at $1.56 on Friday. The business has a 50-day moving average of $3.43 and a 200-day moving average of $2.12. Sonnet BioTherapeutics has a fifty-two week low of $1.55 and a fifty-two week high of $18.72.

Hedge Funds Weigh In On Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Armistice Capital LLC acquired a new position in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 272,000 shares of the company’s stock, valued at approximately $255,000. Armistice Capital LLC owned 8.74% of Sonnet BioTherapeutics at the end of the most recent quarter. 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.