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Sonnet BioTherapeutics Provides Fiscal Year 2024 First Quarter Business and Earnings Update
ACCESSWIRE (Wed, 14-Feb 7:31 AM ET)
Sonnet BioTherapeutics Holdings Inc is a clinical-stage biotechnology company. The company has developed FHAB (Fully Human Albumin Binding) technology which is well suited for drug development across a range of human disease areas, including in oncology, autoimmune, pathogenic, inflammatory, and hematological conditions. The firm's pipeline products include SON-080 (low-dose IL-6), SON-1210 (IL15- FHAB-IL12), SON-1010 (IL12-FHAB), and others.
Sonnet Biotherapeutics Holdings trades on the NASDAQ stock market under the symbol SONN.
As of April 18, 2024, SONN stock price climbed to $1.77 with 17,020 million shares trading.
SONN has a beta of 3.50, meaning it tends to be more sensitive to market movements. SONN has a correlation of 0.09 to the broad based SPY ETF.
SONN has a market cap of $5.43 million. This is considered a Sub-Micro Cap stock.
Last quarter Sonnet Biotherapeutics Holdings reported $18,626 in Revenue and -$.31 earnings per share. This fell short of revenue expectation by $-1,374 and exceeded earnings estimates by $.59.
In the last 3 years, SONN stock traded as high as $840.83 and as low as $1.08.
The top ETF exchange traded funds that SONN belongs to (by Net Assets): VXF.
SONN has underperformed the market in the last year with a price return of -77.8% while the SPY ETF gained +22.3%. However, in the short term, SONN had mixed performance relative to the market. It has outperformed in the last 3 months, returning +31.1% vs +6.1% return in SPY. But in the last 2 weeks, SONN shares have been beat by the market, returning -9.5% compared to an SPY return of -3.8%.
SONN support price is $1.59 and resistance is $1.81 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SONN stock will trade within this expected range on the day.