Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) is -74.87% lower on its value in year-to-date trading and has touched a low of $0.20 and a high of $4.56 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SONN stock was last observed hovering at around $0.28 in the last trading session, with the day’s gains setting it 0.01% off its average median price target of $10.35 for the next 12 months. It is also 97.93% off the consensus price target high of $14.00 offered by 2 analysts, but current levels are 95.67% higher than the price target low of $6.70 for the same period.
Currently trading at $0.29, the stock is 18.76% and -15.30% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.45 million and changing 3.21% at the moment leaves the stock -77.55% off its SMA200. SONN registered -92.06% loss for a year compared to 6-month loss of -73.96%. The firm has a 50-day simple moving average (SMA 50) of -$34.07 and a 200-day simple moving average (SMA200) of $0.26.
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The stock witnessed a 15.60% gain in the last 1 month and extending the period to 3 months gives it a -66.40%, and is 24.95% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 12.63% over the week and 9.67% over the month.
Sonnet BioTherapeutics Holdings Inc. (SONN) has around 12 employees, a market worth around $8.46M and $0.20M in sales. Distance from 52-week low is 40.98% and -93.67% from its 52-week high.
Sonnet BioTherapeutics Holdings Inc. (SONN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Sonnet BioTherapeutics Holdings Inc. (SONN) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Sonnet BioTherapeutics Holdings Inc. is expected to release its quarterly report on 08/14/2023.The EPS is expected to grow by 52.00% this year
Sonnet BioTherapeutics Holdings Inc. (SONN) Top Institutional Holders
The shares outstanding are 27.48M, and float is at 7.23M with Short Float at 12.75%.
Sonnet BioTherapeutics Holdings Inc. (SONN) Insider Activity
A total of 21 insider transactions have happened at Sonnet BioTherapeutics Holdings Inc. (SONN) in the last six months, with sales accounting for 6 and purchases happening 15 times. The most recent transaction is an insider purchase by Bhatt Nailesh, the company’s Director. SEC filings show that Bhatt Nailesh bought 25,000 shares of the company’s common stock on May 17 at a price of $0.23 per share for a total of $5800.0. Following the purchase, the insider now owns 30733.0 shares.
Sonnet BioTherapeutics Holdings Inc. disclosed in a document filed with the SEC on May 15 that Mohan Pankaj (Chairman, President and CEO) bought a total of 371,600 shares of the company’s common stock. The trade occurred on May 15 and was made at $0.22 per share for $82867.0. Following the transaction, the insider now directly holds 0.55 million shares of the SONN stock.
Still, SEC filings show that on Mar 15, Mohan Pankaj (Chairman, President and CEO) acquired 60,000 shares at an average price of $0.58 for $35100.0. The insider now directly holds 181,731 shares of Sonnet BioTherapeutics Holdings Inc. (SONN).
