Sonnet BioTherapeutics Approves Merger with Hyperliquid and Rorschach

An update from Sonnet BioTherapeutics Holdings ( (SONN) ) is now available.

On December 2, 2025, Sonnet BioTherapeutics Holdings announced that its stockholders approved a proposed business combination with Hyperliquid Strategies Inc and Rorschach I LLC. This strategic move is expected to enhance Sonnet’s market positioning by potentially expanding its capabilities and offerings in the biotechnology sector, impacting stakeholders positively.

The most recent analyst rating on (SONN) stock is a Sell with a $4.00 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 Underperform.

Sonnet BioTherapeutics Holdings’ overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, negative profitability, and high leverage. Technical analysis indicates a bearish trend with weak momentum, while valuation metrics are unattractive due to a negative P/E ratio and no dividend yield. These factors collectively suggest significant risks and challenges for the company.

To see Spark’s full report on SONN stock, click here.

More about Sonnet BioTherapeutics Holdings

Sonnet BioTherapeutics Holdings, Inc. is a biotechnology company focused on oncology, utilizing a proprietary platform called FHAB (Fully Human Albumin Binding) to innovate biologic drugs with single or bifunctional action. The technology employs a fully human single chain antibody fragment that targets tumor and lymphatic tissues, optimizing the safety and efficacy of immune-modulating biologic drugs.

Average Trading Volume: 955,670

Technical Sentiment Signal: Sell

Current Market Cap: $21.94M

For a thorough assessment of SONN stock, go to TipRanks’ Stock Analysis page.