Sonnet BioTherapeutics Holdings Inc (NASDAQ:SONN) price on Wednesday, July 02, rose 242.98% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.15.
A look at the stock’s price movement, the close in the last trading session was $1.21. Turning to its 52-week performance, $10.02 and $1.08 were the 52-week high and 52-week low respectively. Overall, SONN moved 254.70% over the past month.
Sonnet BioTherapeutics Holdings Inc’s market cap currently stands at around $13.14 million, with investors looking forward to this quarter’s earnings report slated for in August.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SONN is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend SONN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SONN’s current price about 214.18% and 219.55% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 93.51, while 7-day volatility ratio is 53.45% and 17.05% in the 30-day chart. Further, Sonnet BioTherapeutics Holdings Inc (SONN) has a beta value of 0.91.
If we refocus on Sonnet BioTherapeutics Holdings Inc (NASDAQ:SONN), historical trading data shows that trading volumes averaged 44.93K over the past 3 months. The company’s latest data on shares outstanding shows there are 3.17 million shares.
The 1.22% of Sonnet BioTherapeutics Holdings Inc’s shares are in the hands of company insiders while institutional holders own 5.09% of the company’s shares. Current price change has pushed the stock -44.67% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SONN stock continues to rise going into the next quarter.
