272,000 Shares in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Purchased by Armistice Capital LLC

Armistice Capital LLC purchased a new stake in Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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.

Sonnet BioTherapeutics Stock Performance

Shares of Sonnet BioTherapeutics stock opened at $0.73 on Friday. The firm has a 50-day simple moving average of $0.81 and a two-hundred day simple moving average of $1.34. Sonnet BioTherapeutics Holdings, Inc. has a fifty-two week low of $0.62 and a fifty-two week high of $2.97.

Sonnet BioTherapeutics (NASDAQ:SONN) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.06. Sonnet BioTherapeutics had a negative return on equity of 398.45% and a negative net margin of 11,187.19%. On average, equities research analysts forecast that Sonnet BioTherapeutics Holdings, Inc. will post -1.61 earnings per share for the current year.

Analyst Ratings Changes

Separately, Chardan Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of Sonnet BioTherapeutics in a report on Friday, August 23rd.

Sonnet BioTherapeutics 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.