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Could Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) Regain All Of Its Losses Given A -21.85% Dip From High?

During the last session, Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN)’s traded shares were 2.45 million, with the beta value of the company hitting 0.55. At the end of the trading day, the stock’s price was $0.29, reflecting an intraday gain of 3.21% or $0.01. The 52-week high for the SONN share is $4.56, that puts it down -1472.41 from that peak though still a striking 31.03% gain since the share price plummeted to a 52-week low of $0.20. The company’s market capitalization is $8.46M, and the average intraday trading volume over the past 10 days was 2.94 million shares, and the average trade volume was 1.53 million shares over the past three months.

Sonnet BioTherapeutics Holdings Inc. (SONN) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. SONN has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.3.

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Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN) trade information

Sonnet BioTherapeutics Holdings Inc. (SONN) registered a 3.21% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.21% in intraday trading to $0.29 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 24.95%, and it has moved by 15.60% in 30 days. Based on these gigs, the overall price performance for the year is -92.06%. The short interest in Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN) is 0.92 million shares and it means that shorts have 0.4 day(s) to cover.

The consensus price target of analysts on Wall Street is $10.35, which implies an increase of 97.2% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.70 and $14.00 respectively. As a result, SONN is trading at a discount of -4727.59% off the target high and -2210.34% off the low.

Sonnet BioTherapeutics Holdings Inc. (SONN) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 83.50% this quarter and then jump 83.20% in the quarter after that.

As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $62k and $63k respectively.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 53.00%. While earnings are projected to return 52.00% in 2023.

SONN Dividends

Sonnet BioTherapeutics Holdings Inc. is due to release its next quarterly earnings between August 14 and August 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN)’s Major holders

Sonnet BioTherapeutics Holdings Inc. insiders own 0.80% of total outstanding shares while institutional holders control 0.65%, with the float percentage being 0.65%. Anson Funds Management LP is the largest shareholder of the company, while 14 institutions own stock in it. As of Mar 30, 2023, the company held over 1.76 million shares (or 6.40% of all shares), a total value of $0.63 million in shares.

The next largest institutional holding, with 1.66 million shares, is of Walleye Capital LLC’s that is approximately 6.06% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $0.6 million.

Also, the Mutual Funds coming in first place with the largest holdings of Sonnet BioTherapeutics Holdings Inc. (SONN) shares are Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Extended Market Index Fund owns about 18057.0 shares. This amounts to just over 0.09 percent of the company’s overall shares, with a $20765.0 market value. The same data shows that the other fund manager holds slightly less at 18597.0, or about 0.09% of the stock, which is worth about $15708.0.

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