Market cap of Sonnet BioTherapeutics Holdings Inc. [SONN] reaches 21.40M – now what?


Sonnet BioTherapeutics Holdings Inc. [NASDAQ: SONN] jumped around 0.01 points on Wednesday, while shares priced at $0.33 at the close of the session, up 1.09%. The company report on April 13, 2022 that Sonnet BioTherapeutics Announces First Patient Dosed in Phase 1 Clinical Trial of SON-1010 for Advanced Solid Tumors.

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Sonnet BioTherapeutics Holdings, Inc., (NASDAQ:SONN) a clinical-stage company developing targeted immunotherapeutic drugs, announced today that dosing has been initiated in a Phase 1 clinical trial of SON-1010 (IL12-FHAB) in adult patients with advanced solid tumors.

SON-1010 is a proprietary version of human Interleukin 12 (IL-12), configured using Sonnet’s Fully Human Albumin Binding (FHAB™) platform. The FHAB technology targets tumor and lymphatic tissue, providing a mechanism for dose sparing and an opportunity to improve the safety and efficacy profile of not only IL-12, but a variety of potent immunomodulators.

Sonnet BioTherapeutics Holdings Inc. stock is now -21.21% down from its year-to-date (YTD) trading value. SONN Stock saw the intraday high of $0.36 and lowest of $0.313 per share. The company’s 52-week high price is 2.73, which means current price is +27.65% above from all time high which was touched on 03/16/22.

Compared to the average trading volume of 7.18M shares, SONN reached a trading volume of 3252763 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 0.05, with the Price to Sales ratio for SONN stock in the period of the last 12 months amounting to 35.67. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 0.30.

How has SONN stock performed recently?

Sonnet BioTherapeutics Holdings Inc. [SONN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.87. With this latest performance, SONN shares dropped by -27.99% in over the last four-week period, additionally sinking by -48.64% over the last 6 months – not to mention a drop of -83.97% 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 43.72, with the RSI for the last a single of trading hit 40.40, and the three-weeks RSI is set at 45.51 for Sonnet BioTherapeutics Holdings Inc. [SONN]. The present Moving Average for the last 50 days of trading for this stock 0.3455, while it was recorded at 0.3308 for the last single week of trading, and 0.5824 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Sonnet BioTherapeutics Holdings Inc. [SONN] shares currently have an operating margin of -5187.36. Sonnet BioTherapeutics Holdings Inc.’s Net Margin is presently recorded at -5165.97.

Return on Equity for this stock declined to -197.66, with Return on Assets sitting at -135.09.

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 $1 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 2.40% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 1,126,509 shares of the stock with an approximate value of $0.36 million in SONN stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.11 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 June and at the time of the June reporting period, where 9 institutional holders increased their position in Sonnet BioTherapeutics Holdings Inc. [NASDAQ:SONN] by around 1,202,832 shares. Additionally, 3 investors decreased positions by around 4,148 shares, while 9 investors held positions by with 2,783,264 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 1 institutional investors sold positions of 400 shares during the same period.