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Monday, June 5, 2023

The Question Is Whether To Buy Or Not To Buy Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN)

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Sonnet BioTherapeutics Holdings Inc. (SONN) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.004, or -1.43%, to $0.276. The Sonnet BioTherapeutics Holdings Inc. has recorded 90,515 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Sonnet BioTherapeutics Provides Fiscal Year 2023 Second Quarter and Year-to-Date Business and Earnings Update.

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Stocks Info

Sonnet BioTherapeutics Holdings Inc. is listed on the NASDAQ as a member of the Healthcare sector and is a part of the Biotechnology industry. At the end of the last regular session, the stock closed at $0.28 and fluctuated between $0.2910 as its day high and $0.2671 as its day low. The current market capitalization of Sonnet BioTherapeutics Holdings Inc. is $8.19M. A total of 2.29 million shares were traded on the day, compared to an average of 1.50M shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, SONN has seen 1 BUY and 0 SELL insider trades, representing the acquisition of 60,000 and the disposition of 0 shares. Over the last 12 months, there were 15 BUYs and 6 SELLs from insiders. Insiders purchased 337,189 shares during that period but sold 123,823.

In the most recent transaction, Bhatt Nailesh bought 25,000 shares of SONN for 0.23 per share on May 17. After the transaction, the Director now owns 30,733 company shares. In a previous transaction on May 15, Mohan Pankaj bought 371,600 shares at 0.22 per share. SONN shares that Chairman, President and CEO owns now total 553,331.

Among the insiders who bought shares, Mohan Pankaj acquired of 60,000 shares on Mar 15 at a per-share price of $0.58. This resulted in the Chairman, President and CEO holding 181,731 shares of SONN after the transaction.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for SONN in the last 3 months, the mean price target is $10.35 with high estimates of $14.00 and low estimates of $6.70. In terms of 52-week highs and lows, SONN has a high of $4.56 and a low of $0.20.

As of this writing, SONN has an earnings estimate of -$0.3 per share for the current quarter. EPS was calculated based on a consensus of 2 estimates, with a high estimate of -$0.29 per share and a lower estimate of -$0.31. The company reported an EPS of -$0.8 in the last quarter, which was 27.30% higher than expectations of -$1.1.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information. SONN’s latest balance sheet shows that the firm has $27.62M in Cash & Short Term Investments as of fiscal 2021. There were $125.88k in debt and $6.70M in liabilities at the time. Its Book Value Per Share was $0.33, while its Total Shareholder’s Equity was $22.26M.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for SONN is Buy with a score of 5.00.

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