Sonnet BioTherapeutics
SONN
SONN was delisted on the 2nd of December, 2025.
27 hedge funds and large institutions have $3.53M invested in Sonnet BioTherapeutics in 2025 Q3 according to their latest regulatory filings, with 21 funds opening new positions, 3 increasing their positions, 2 reducing their positions, and 3 closing their positions.
1,478% more capital invested
Capital invested by funds: $224K → $3.53M (+$3.31M)
600% more first-time investments, than exits
New positions opened: 21 | Existing positions closed: 3
200% more funds holding
Funds holding: 9 → 27 (+18)
50% more repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 2
5.6% more ownership
Funds ownership: 5.7% → 11.29% (+5.6%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IC
Ikarian Capital
Dallas,
Texas
|
+$665K |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
+$427K |
| 3 |
HF
HRT Financial
New York
|
+$329K |
| 4 |
BFM
Boothbay Fund Management
New York
|
+$250K |
| 5 |
Goldman Sachs
New York
|
+$245K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MI
MMCAP International
Grand Cayman,
Cayman Islands
|
-$166K |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$28.3K |
| 3 |
XT
XTX Topco
George Town,
Cayman Islands
|
-$16.9K |
| 4 |
TRCT
Tower Research Capital (TRC)
New York
|
-$1.84K |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
-$7 |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Osaic Holdings
Scottsdale,
Arizona
| $568 | +$776 | +175 | New |
|
|
CWA
27
Carolina Wealth Advisors
Myrtle Beach,
South Carolina
| $147 | – | – | – |
|
|
MI
28
MMCAP International
Grand Cayman,
Cayman Islands
| – | -$166K | -133,590 | Closed |
|
|
XT
29
XTX Topco
George Town,
Cayman Islands
| – | -$16.9K | -13,668 | Closed |
|
|
30
Raymond James Financial
St Petersburg,
Florida
| – | -$7 | -6 | Closed |
|
SONN Hedge Fund Activity: Q3 2025 in Review
27 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Sonnet BioTherapeutics (SONN) for Q3 2025, worth a combined $3.53M — up 1,478% from $224K a quarter earlier.
Buyers outnumbered sellers: 21 funds opened new SONN positions and 3 closed out — a net gain of 18 holders — while 3 added to existing stakes and 2 trimmed.
The largest buyer was Ikarian Capital, opening a new position worth an estimated $665K. The largest seller was MMCAP International, exiting entirely with an estimated $166K sold.
- 27 institutional investors held Sonnet BioTherapeutics (SONN) as of Q3 2025, up from 9 in Q2 2025.
- Funds reported $3.53M of Sonnet BioTherapeutics stock for Q3 2025, up 1,478% quarter-over-quarter.
- 21 funds opened new Sonnet BioTherapeutics positions in Q3 2025 and 3 closed out, a net change of +18 holders.
- The largest Sonnet BioTherapeutics buyer in Q3 2025 was Ikarian Capital, an estimated $665K added.
- The largest Sonnet BioTherapeutics seller in Q3 2025 was MMCAP International, an estimated $166K sold.
Based on aggregated 13F filings for Q3 2025.