Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Short Interest Up 443.9% in December

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 218,100 shares, an increase of 443.9% from the November 30th total of 40,100 shares. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is presently 0.2 days. Approximately 7.6% of the company’s stock are short sold.

Sonnet BioTherapeutics Trading Up 1.3 %

SONN traded up $0.02 on Friday, hitting $1.51. 156,964 shares of the stock traded hands, compared to its average volume of 345,685. Sonnet BioTherapeutics has a 52 week low of $1.41 and a 52 week high of $18.72. The business has a fifty day moving average price of $3.13 and a two-hundred day moving average price of $2.11.

Hedge Funds Weigh In On Sonnet BioTherapeutics

A hedge fund recently bought a new stake in Sonnet BioTherapeutics stock. Armistice Capital LLC purchased a new position in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 272,000 shares of the company’s stock, valued at approximately $255,000. Armistice Capital LLC owned about 8.74% of Sonnet BioTherapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.45% of the company’s stock.

Analyst Ratings Changes

Separately, Chardan Capital lowered their price objective on Sonnet BioTherapeutics from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, December 20th.

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.