Sonnet BioTherapeutics Holdings Inc. [SONN] Stock trading around $0.45 per share: What’s Next?


Sonnet BioTherapeutics Holdings Inc. [NASDAQ: SONN] traded at a high on 03/21/22, posting a 0.44 gain after which it closed the day’ session at $0.45. The company report on March 16, 2022 that Sonnet BioTherapeutics Announces FDA Clearance of Its IND for SON-1010 for the Treatment of Advanced Solid Tumors.

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Represents Sonnet’s first IND cleared.

The results of the trading session contributed to over 6934608 shares changing hands. Over the past one week, the price volatility of Sonnet BioTherapeutics Holdings Inc. stands at 21.14% while the volatility over the past one month is 12.85%.

The market cap for SONN stock reached $32.54 million, with 72.00 million shares outstanding and 58.66 million shares in the current float. Compared to the average trading volume of 6.46M shares, SONN reached a trading volume of 6934608 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Sonnet BioTherapeutics Holdings Inc. [SONN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SONN shares is $2.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SONN stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Sonnet BioTherapeutics Holdings Inc. is set at 0.06, with the Price to Sales ratio for SONN stock in the period of the last 12 months amounting to 54.24. The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 0.27.

How has SONN stock performed recently?

Sonnet BioTherapeutics Holdings Inc. [SONN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 62.01. With this latest performance, SONN shares gained by 53.17% in over the last four-week period, additionally sinking by -23.47% over the last 6 months – not to mention a drop of -81.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SONN stock in for the last two-week period is set at 62.75, with the RSI for the last a single of trading hit 64.28, and the three-weeks RSI is set at 60.18 for Sonnet BioTherapeutics Holdings Inc. [SONN]. The present Moving Average for the last 50 days of trading for this stock 0.3288, while it was recorded at 0.4461 for the last single week of trading, and 0.7050 for the last 200 days.

Sonnet BioTherapeutics Holdings Inc. [SONN]: Deeper insight into the fundamentals

Sonnet BioTherapeutics Holdings Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 4.70.

Insider trade positions for Sonnet BioTherapeutics Holdings Inc. [SONN]

There are presently around $2 million, or 6.60% of SONN stock, in the hands of institutional investors. The top three institutional holders of SONN stocks are: VANGUARD GROUP INC with ownership of 1,776,953, which is approximately 0.011% of the company’s market cap and around 2.63% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 1,126,509 shares of the stock with an approximate value of $0.51 million in SONN stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.15 million in SONN stock with ownership of nearly 189.81% of the company’s market capitalization.

Positions in Sonnet BioTherapeutics Holdings Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 9 institutional holders increased their position in Sonnet BioTherapeutics Holdings Inc. [NASDAQ:SONN] by around 1,202,832 shares. Additionally, 4 investors decreased positions by around 4,648 shares, while 9 investors held positions by with 2,782,764 shares. The mentioned changes placed institutional holdings at 3,990,244 shares, according to the latest SEC report filing. SONN stock had 3 new institutional investments in for a total of 300,522 shares, while 2 institutional investors sold positions of 900 shares during the same period.