Sonnet BioTherapeutics (NASDAQ:SONN) Posts Earnings Results, Beats Expectations By $9.56 EPS

Sonnet BioTherapeutics (NASDAQ:SONN) posted its quarterly earnings results on Thursday. The company reported ($1.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($11.12) by $9.56, Zacks reports.

Sonnet BioTherapeutics Stock Down 1.3 %

SONN traded down $0.02 during trading hours on Thursday, reaching $1.54. The company’s stock had a trading volume of 31,288 shares, compared to its average volume of 230,465. Sonnet BioTherapeutics has a 52 week low of $1.41 and a 52 week high of $18.72. The company’s 50-day moving average is $1.65 and its 200-day moving average is $2.25.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital dropped their price target on Sonnet BioTherapeutics from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, December 20th.

Sonnet BioTherapeutics Company Profile

Sonnet BioTherapeutics Holdings, Inc, a biotechnology company, owns a platform for biologic medicines of single or bifunctional action. The company develops fully human albumin binding technology, which utilizes human single chain antibodies fragment that binds to and hitch-hikes on human serum albumin for transport to target tissues.