Sonnet BioTherapeutics Stock (NASDAQ: SONN)

Sonnet BioTherapeutics Stock (NASDAQ:SONN), Trade Ideas

Sonnet BioTherapeutics

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.

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SONN

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) shares are trading lower by 8.5% to $1.18 Thursday morning on downward momentum.

What&#39;s Happening With Sonnet BioTherapeutics (SONN) Shares?

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U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 100 points on Wednesday.

The Dow traded down 0.35% to 33,025.71 while the NASDAQ fell 2.45% to 12,817.76. The S&amp;P 500 also fell, dropping, 1.48% to 4,184.98.

Dow Falls Over 100 Points; Alphabet Shares Tumble After Q3 Results

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	Abri SPAC I, Inc.  (NASDAQ: ASPA) shares climbed 127.1% to $28.39. Abri&#39;s stockholders approved its proposed business combination with DLQ.


Why Owens Corning Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Sonnet BioTherapeutics Holdings, Inc. - Common Stock

Sonnet BioTherapeutics Holdings Inc

Baird analyst Eric Coldwell maintains Medpace Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) with a Outperform and raises the price target from $446 to $454.

Price Target

Analyst Ratings

MEDP

Baird Maintains Outperform on Medpace Hldgs, Raises Price Target to $454

Guidance

Lennox Reaffirms FY24 Revenue Guidance Of Approximately 7%, With 2% Of Benefit From AES Acquisition; Revises EPS Guidance From $18.50-$20.00 To $19.00-$20.00, Est $19.72

HELE

Helen Of Troy Sees FY25 Adj EPS Of $8.70-$9.20 Vs. $9.72 Est.

CNX Resources And Deep Well Services Announced A Joint Venture To Launch AutoSepSM Technologies, A New Oilfield Service Company Providing Step Change Improvement To Conventional Flowback Operations

Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) reported quarterly earnings of $3.67 per share which beat the analyst consensus estimate of $3.44 by 6.69 percent. This is a 7.94 percent increase over earnings of $3.40 per share from the same period last year. The company reported quarterly sales of $2.291 billion which missed the analyst consensus estimate of $2.311 billion by 0.87 percent. This is a 7.00 percent decrease over sales of $2.463 billion the same period last year.

Earnings Beats

Earnings Misses

BIIB

Biogen Q1 2024 Adj EPS $3.67 Beats $3.44 Estimate, Sales $2.291B Miss $2.311B Estimate

Baird analyst Catherine Schulte maintains Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) with a Outperform and raises the price target from $259 to $271.

Baird Maintains Outperform on Danaher, Raises Price Target to $271

Helen Of Troy Sees FY25 $1.965B - $2.025B Vs. $2.04B Est.

Avery Dennison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVY#NYSE">AVY</a>) reported quarterly earnings of $2.29 per share which beat the analyst consensus estimate of $2.15 by 6.51 percent. This is a 34.71 percent increase over earnings of $1.70 per share from the same period last year. The company reported quarterly sales of $2.15 billion which met the analyst consensus estimate. This is a 4.16 percent increase over sales of $2.06 billion the same period last year.

Avery Dennison Q1 Adj $2.29 Beats $2.15 Estimate, Sales $2.15B Inline

On Tuesday, April 23rd, the U.S. stock markets closed higher, boosted by strong earnings from major companies and interest in&nbsp;key&nbsp;growth stocks.&nbsp;
Tesla launched new EV models and reported lower-than-expected revenue,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38394792/tesla-stock-surges-despite-ugly-q1-results-heres-why" rel="noreferrer noopener">yet its stock surged 6% after hours</a>.
According to the economic data, the S&amp;P Global composite PMI dropped to 50.9 in April from 52.1 last month. Meanwhile, new single-family home sales rose 8.8% in March to an annualized rate of 693,000, rebounding from a 5.1% drop in February.
Ten of the 11 S&amp;P 500 sectors advanced, with notable gains in the communication services and technology sectors. However, the Materials sector declined.
The Dow Jones Industrial Average gained 0.69% to close at 38,503.69. The S&amp;P 500 rose 1.20%, ending the day at 5,070.55, while the Nasdaq Composite climbed 1.59%, finishing the session at 15,696.64.
Asian Markets Today
<ul>
<li>On Wednesday, Japan&#8217;s Nikkei 225 index finished the trading day higher by 2.26% at 38,410.50, led by gains in the Power, Gas &amp; Water, and Transportation Equipment sectors.</li>
<li>The Japanese stock market ended significantly higher on Wednesday, extending its winning streak to three days; the rally&nbsp;was fueled&nbsp;by positive sentiment from Wall Street&#8217;s overnight gains, driven by strong corporate earnings.</li>
<li>In Australia, the S&amp;P/ASX 200 closed slightly lower by 0.01% at 7,683.00, led by losses in the Utilities, Industrials and IT sectors.</li>
<li>India&#8217;s Nifty 50 closed higher by 0.20% at 22,413.05, and the Nifty 500 rose 0.41%, closing at 20,736.90.</li>
<li>China&#8217;s Shanghai Composite gained 0.76% to end the session at 3,044.82, and the Shenzhen CSI 300 rose 0.44%, closing at 3,521.62.</li>
<li>Hong Kong&#8217;s Hang Seng Index gained 2.21%, concluding the day at 17,201.27.</li>
</ul>
Eurozone at 06:15 AM ET
<ul>
<li>The European STOXX 50 index was up 0.40%.</li>
<li>Germany&#8217;s DAX gained 0.25%.</li>
<li>France&#8217;s CAC increased 0.42%.</li>
<li>U.K.&#8217;s FTSE 100 traded higher by 0.57%.</li>
</ul>
Commodities at 06:15 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 0.44 % at $82.99/bbl, and Brent was down 0.09% at $87.08 bbl.</li>
<li>Natural Gas gained 0.62% to $2.107.</li>
<li>Gold was trading lower by 0.49% at $2,330.60, Silver declined 0.58% to $26.203, while Copper was up 0.76% at $4.4685.</li>
</ul>
US Futures at 06:15 AM ET&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Dow futures were down 0.05%, S&amp;P 500 futures rose 0.08%, and Nasdaq 100 Futures climbed 0.48%.
Forex at 06:15 AM ET
The U.S. dollar index rose 0.17% to 105.58, the USD/JPY rose 0.06% to 154.91, and the USD/AUD declined 0.26% to 1.5378.
Photo by Pavel Bobrovskiy via Shutterstock

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Asia And Europe Markets Rise, US Dollar Rebounds - Global Markets Today While US Slept

Helen Of Troy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) reported quarterly adjusted earnings of $2.45 per share which beat the analyst consensus estimate of $2.30 by 6.52 percent. This is a 21.89 percent increase over earnings of $2.01 per share from the same period last year. The company reported quarterly sales of $489.20 million which beat the analyst consensus estimate of $476.90 million by 2.58 percent. This is a 0.95 percent increase over sales of $484.58 million the same period last year.

Helen Of Troy Q4 Adj $2.45 Beats $2.30 Estimate, Sales $489.20M Beat $476.90M Estimate

Lennox Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) reported quarterly Adj earnings of $3.47 per share which beat the analyst consensus estimate of $3.16 by 9.81 percent. The company reported quarterly sales of $1.047 billion which missed the analyst consensus estimate of $1.050 billion by 0.33 percent. This is a 0.19 percent decrease over sales of $1.049 billion the same period last year.

Lennox Intl Q1 2024 Adj EPS $3.47 Beats $3.16 Estimate, Sales $1.047B Miss $1.050B Estimate

Baird analyst Craig Kennison maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Outperform and lowers the price target from $110 to $100.

Baird Maintains Outperform on Polaris, Lowers Price Target to $100

Baird analyst Michael Bellisario maintains Choice Hotels Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHH#NYSE">CHH</a>) with a Outperform and lowers the price target from $140 to $137.

Baird Maintains Outperform on Choice Hotels Intl, Lowers Price Target to $137

AMBO

Ambow Education Announced That It Presented Its Innovative HybriU AI Education Technology And Solutions At Its Open House Event Held Last Week At The NewSchool Of Architecture & Design Campus In San Diego, California.

Edward Snowden, the former computer security consultant for the National Security Agency or NSA, has advised against using Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) due to privacy concerns.
What Happened: Reddit, a social media platform that has been in the <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37932495/reddit-options-buying-leaning-toward-bullish-sentiments-on-wall-street">spotlight for various reasons</a>, including its IPO and its role in <a href="https://www.benzinga.com/news/24/03/37900610/wallstreetbets-celebrates-reddit-ipo-tendies-shout-out-to-reddit-for-the-20k-profit">the WallStreetBets saga</a>, is now facing criticism from Snowden. 
On Tuesday, Snowden took to X, formerly Twitter to express his concerns about Reddit&#8217;s new login requirements. He shared a screenshot suggesting that the platform now asks for identification when users attempt to access it while logged out. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don&#39;t ever use Reddit again. <a href="https://t.co/ynSlWFt844">pic.twitter.com/ynSlWFt844</a>
&mdash; Edward Snowden (@Snowden) <a href="https://twitter.com/Snowden/status/1782866977997918629?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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When a user suggested that the ID request was just a way to prompt users to log in, Snowden disagreed, calling the move &#8220;reprehensible.&#8221; He also noted that the new requirement seems to affect everyone connecting via Tor or VPNs, which he described as &#8220;at-risk populations that need privacy.&#8221;
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Reddit&#8217;s stock, which saw a significant surge following its IPO, has been a subject of interest for investors. The company&#8217;s IPO journey has also been rocky, with <a href="https://www.benzinga.com/news/24/04/38109861/reddits-rocky-ipo-journey-analysts-cast-doubt-amid-meme-stock-fears">analysts expressing doubts</a> about its profitability and the risk of becoming a &#8220;meme stock.&#8221; 
The platform, which went public in March, has also been under scrutiny for its data practices. Last month, a report highlighted Reddit&#8217;s practice of selling user <a href="https://www.benzinga.com/news/24/03/37898537/reddit-is-selling-you-to-artificial-intelligence-firms-should-you-care">data to artificial intelligence firms</a>. 
The company <a href="https://www.benzinga.com/news/24/02/37254800/reddit-and-google-team-up-in-60-million-deal-to-train-search-giants-ai-models-report" target="_blank" rel="noreferrer noopener">signed a $60 million</a> annual deal with Alphabet Inc&#8216;s Google earlier this year, which could result in numerous licensing agreements for its content. 
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Google and Potential AWS Deals Showcase Reddit&#8217;s Critical Role in AI and Brand Strategy: Analysts</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

Tech

RDDT

Edward Snowden Says No To Ever Using Reddit Again: 'At-Risk Populations That Need Privacy'

Entergy Reaffirmed FY24 Adjusted EPS Of $7.05-$7.35 Vs. $7.20 Est.

Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has hinted at a significant restructuring of the company in response to a post on X.
What Happened: On Wednesday, Musk responded to a post by Teslaconomics, which highlighted a statement made by the billionaire during Tesla&#8217;s Q1 earnings call.
&#8220;This is the main reason Elon is re-organizing Tesla,&#8221; the X user posted on the social media platform.
&#8220;We&#8217;re not giving up anything that is significant that I&#8217;m aware of. We&#8217;ve had a long period of prosperity from 2019 to now. And so, if a company sort of organizationally is 5% wrong per year, that accumulates to of inefficiency,&#8221; Musk said.
During the call, he compared a company to an organism, stating that it needs to be reorganized for different growth phases to avoid failure. &#8220;We&#8217;ve made some corrections along the way. But it is time to reorganize the company for the next phase of growth and you really need to reorganize it, just like a human when we start off with one cell and kind of zygote, kind of blastocyst and you start growing arms and legs and briefly, you have a tail. But you shed the tail. You shed the tail, hopefully. And then you&#8217;re a baby, and basically, you have to be the organism &#8212; a company is kind of like creature growing.&#8221;
Musk responded to this clip, &#8220;No choice.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No choice
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1783055903106929066?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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Why It Matters: This tweet comes on the heels of Musk&#8217;s recent comments on the importance of vehicle autonomy for Tesla. He described the commitment to autonomous driving as a &#8220;<a href="https://www.benzinga.com/news/24/04/38286437/tesla-ceo-elon-musk-says-going-balls-to-the-wall-for-autonomous-driving-is-blindingly-obvious-as-eve">blindingly obvious move</a>,&#8221; likening everything else to variations on a horse carriage.
Moreover, Musk&#8217;s tweet aligns with his recent actions that suggest a shift in strategy. Following the layoffs of over 10% of Tesla&#8217;s global workforce, Musk liked a social media post suggesting he was <a href="https://www.benzinga.com/news/24/04/38263933/elon-musk-re-enters-wartime-ceo-mode-tesla-chief-explains-necessity-of-massive-job-cuts-amid-report">re-entering &#8220;wartime CEO&#8221; mode </a>and focusing the company entirely on its robotaxi project.
Price Action: As of Tuesday, Tesla&#8217;s stock closed at $144.68, a 1.85% increase from the previous close. The company<a href="https://www.benzinga.com/news/earnings/24/04/38394792/tesla-stock-surges-despite-ugly-q1-results-heres-why"> reported Q1 earnings</a> of $0.45 per share, slightly below the estimated $0.51 per share. On Wednesday, the stock was trading 10.6% higher at $160.06 in the pre-market.
Photo via Shutterstock
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Equities

General

TSLA

'No Choice:' Elon Musk Reacts As X User Reveals 'Main Reason' Why The Billionaire Is 'Re-Organizing' Tesla

WIIM

Boston Scientific shares are trading higher after the company reported better than expected Q1 earnings and issued guidance.

GROY

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ABNB

Airbnb shares are trading higher after Mizuho upgraded the stock from Neutral to Buy and raised its price target from $150 to $200.

BTIG analyst Kaveri Pohlman maintained a Buy rating on Sonnet BioTherapeutics Holdings (SONN – Research Report) yesterday and set a price target of...

Sonnet BioTherapeutics Holdings (SONN) Gets a Buy from BTIG

BTIG analyst Kaveri Pohlman maintained a Buy rating on Sonnet BioTherapeutics Holdings (SONN – Research Report) on January 5 and set a price target...

BTIG Reaffirms Their Buy Rating on Sonnet BioTherapeutics Holdings (SONN)

Sonnet BioTherapeutics GAAP EPS of -$0.31

Sonnet BioTherapeutics GAAP EPS of -$0.31, revenue of $18.63M

In a report released yesterday, Kaveri Pohlman from BTIG maintained a Buy rating on Sonnet BioTherapeutics Holdings (SONN – Research Report), with ...

Buy Recommendation for Sonnet BioTherapeutics: Clinical Progress and Strong Financial Position

The latest update is out from Sonnet BioTherapeutics Holdings (SONN). The Company's groundbreaking treatment for chemotherapy-induced peripheral ne...

Sonnet BioTherapeutics Advances SON-080 into Phase 2 Trials

Overall market sentiment has been down on Sonnet BioTherapeutics Holdings, Inc. (SONN)  stock lately. SONN receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator. Sonnet BioTherapeutics Holdings, Inc. has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on S

Where Will Sonnet BioTherapeutics Holdings, Inc. (SONN) Stock Go Next After It Is Up 1.06% in a Week?

Sonnet BioTherapeutics Holdings, Inc. (SONN) is down -10.63%% today. SONN has an Overall Score of 46. Find out what this means to you and get the rest of the rankings on SONN!See Full SONN ReportSONN stock closed at $2.07 and is down -$0.22 during pre-market trading. Pre-market tends to be more volatile due to significantl

Sonnet BioTherapeutics Holdings, Inc. (SONN) Down 10.63% in Premarket Trading

RNLX, ASLN and SONN among pre-market losers

Do Traders Think Sonnet BioTherapeutics Holdings, Inc. (SONN) Can Turn Around Thursday?

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Press Releases

Sonnet BioTherapeutics Announces Results of Biodistribution Studies Demonstrating Solid Tumor Targeting Using the FHAB Technology

Sonnet BioTherapeutics Announces Abstract Accepted for Presentation by a Key Opinion Leader at the 2023 Connective Tissue Oncology Society (CTOS) Annual Meeting

Sonnet BioTherapeutics Announces Pricing of $4.55 Million Underwritten Public Offering

Sonnet BioTherapeutics Provides Fiscal Year 2023 Business Overview

Sonnet BioTherapeutics Provides Fiscal Year 2023 Business and Financial Update

Sonnet BioTherapeutics Announces Publication Demonstrating Suitability of SON-1210, the First Albumin-binding Bifunctional IL-12/IL-15 Fusion Protein, for Solid Tumor Immunotherapy

Sonnet BioTherapeutics Provides Fiscal Year 2024 First Quarter Business and Earnings Update

Sonnet BioTherapeutics Announces a Publication Demonstrating Safety and Tolerability of SON-1010 in Healthy Volunteers

Sonnet BioTherapeutics Announces Early Safety Data from the Company's Phase 1b/2a Clinical Trial of SON-080 in Chemotherapy-Induced Peripheral Neuropathy (CIPN) Met the Study's Initial Pre-Specified Objective

Sonnet BioTherapeutics to Present Preclinical Data on SON-080 for Chemotherapy-Induced Peripheral Neuropathy (CIPN) at the AACR 2024 Annual Meeting