Sonnet BioTherapeutics Holdings Inc. [SONN] is -71.82% lower this YTD. Is it still time to buy?

Sonnet BioTherapeutics Holdings Inc. [NASDAQ: SONN] traded at a high on 11/07/22, posting a 5.84 gain after which it closed the day’ session at $1.63. The company report on November 2, 2022 that Sonnet BioTherapeutics Announces Interim Data in Two Phase 1 Dose-Escalation Trials of SON-1010.

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The SB101 and SB102 studies have together dosed 36 subjects to date as dose escalation continues.

Cytokine data show extended pharmacokinetics of SON-1010 with controlled induction of IFNγ and no signs of cytokine release syndrome.

The results of the trading session contributed to over 11746584 shares changing hands. Over the past one week, the price volatility of Sonnet BioTherapeutics Holdings Inc. stands at 31.84% while the volatility over the past one month is 17.26%.

The market cap for SONN stock reached $5.59 million, with 5.00 million shares outstanding and 4.87 million shares in the current float. Compared to the average trading volume of 4.07M shares, SONN reached a trading volume of 11746584 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 $25.00 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 1.50. 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 0.33, with the Price to Sales ratio for SONN stock in the period of the last 12 months amounting to 6.99. The Price to Book ratio for the last quarter was 9.06, with the Price to Cash per share for the same quarter was set at 1.52.

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 -15.54. With this latest performance, SONN shares gained by 5.16% in over the last four-week period, additionally sinking by -58.71% over the last 6 months – not to mention a drop of -82.42% 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 49.58, with the RSI for the last a single of trading hit 50.65, and the three-weeks RSI is set at 47.50 for Sonnet BioTherapeutics Holdings Inc. [SONN]. The present Moving Average for the last 50 days of trading for this stock 1.9033, while it was recorded at 1.9580 for the last single week of trading, and 3.6342 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 Quick Ratio of 1.10 and a Current Ratio set at 1.10.

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

There are presently around $0 million, or 5.00% of SONN stock, in the hands of institutional investors. The top three institutional holders of SONN stocks are: VANGUARD GROUP INC with ownership of 134,859, which is approximately 12.261% of the company’s market cap and around 2.53% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 51,975 shares of the stock with an approximate value of $85000.0 in SONN stocks shares; and VIRTU FINANCIAL LLC, currently with $44000.0 in SONN stock with ownership of nearly New of the company’s market capitalization.

Positions in Sonnet BioTherapeutics Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 9 institutional holders increased their position in Sonnet BioTherapeutics Holdings Inc. [NASDAQ:SONN] by around 56,901 shares. Additionally, 10 investors decreased positions by around 198,925 shares, while 6 investors held positions by with 20,209 shares. The mentioned changes placed institutional holdings at 276,035 shares, according to the latest SEC report filing. SONN stock had 2 new institutional investments in for a total of 27,004 shares, while 4 institutional investors sold positions of 6,229 shares during the same period.


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