Chardan Capital Cuts Sonnet BioTherapeutics (NASDAQ:SONN) Price Target to $20.00

Sonnet BioTherapeutics (NASDAQ:SONN) had its target price trimmed by Chardan Capital from $30.00 to $20.00 in a research note issued to investors 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’s 50 day moving average is $3.43 and its 200-day moving average is $2.12. Sonnet BioTherapeutics has a twelve month low of $1.55 and a twelve month high of $18.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Armistice Capital LLC bought a new stake in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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 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.