Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
An update from Sonnet BioTherapeutics Holdings ( (SONN) ) is now available.
Sonnet BioTherapeutics announced a business combination with Rorschach I LLC to form Hyperliquid Strategies Inc (HSI), a public cryptocurrency treasury company. The transaction, valued at $888 million, will see HSI holding a significant reserve of HYPE tokens, the native token of the Hyperliquid blockchain. This move is expected to transform Sonnet’s business by integrating a cryptocurrency treasury strategy while continuing its focus on existing biotech assets. The merger, subject to approval by Sonnet stockholders, is anticipated to close in the second half of 2025, with HSI listed on Nasdaq under a new ticker symbol.
The most recent analyst rating on (SONN) stock is a Buy with a $240.00 price target. To see the full list of analyst forecasts on Sonnet BioTherapeutics Holdings stock, see the SONN Stock Forecast page.
Spark’s Take on SONN Stock
According to Spark, TipRanks’ AI Analyst, SONN is a Neutral.
Sonnet BioTherapeutics Holdings is facing severe financial challenges, non-compliance issues with Nasdaq, and a negative valuation outlook, which significantly impact its stock score. The technical indicators offer some positive momentum, but the overbought condition signals caution.
To see Spark’s full report on SONN stock, click here.
More about Sonnet BioTherapeutics Holdings
Sonnet BioTherapeutics, Inc. is an oncology-focused biotechnology company that utilizes a proprietary platform known as FHAB (Fully Human Albumin Binding) for developing biologic drugs. The technology is designed to target tumor and lymphatic tissue, optimizing the safety and efficacy of immune-modulating biologic drugs. The company is involved in innovating drugs with single or bifunctional action, including cytokines, peptides, antibodies, and vaccines.
Average Trading Volume: 2,866,076
Technical Sentiment Signal: Sell
Current Market Cap: $16.37M
See more data about SONN stock on TipRanks’ Stock Analysis page.