Published: Fri, June 16, 2017
Hi-Tech | By Ellis Neal

Sorrento Therapeutics, Inc. (SRNE) closed its previous trading session at $1.85


About 2.99 million shares traded or 305.80% up from the average. 6,000 shares were sold by Pearson David, worth $172,965 on Monday, March 20. With 3.41M avg volume, 1 days are for Chimera Investment Corporation (NYSE:CIM)'s short sellers to cover CIM's short positions. It closed at $19.21 lastly.

Sorrento Therapeutics, Inc. (SRNE) has been given an average price target of $14.5 from analysts, according to data collected by Finviz. Therefore 100% are positive. The stock of Sorrento Therapeutics Inc (NASDAQ:SRNE) earned "Outperform" rating by FBR Capital on Tuesday, December 22.

The number of shares now held by investors is 75.31 Million. Rodman & Renshaw reinitiated Sorrento Therapeutics Inc (NASDAQ:SRNE) on Monday, December 7 with "Buy" rating. The correct version of this news story can be accessed at https://www.themarketsdaily.com/2017/06/16/insider-buying-sorrento-therapeutics-inc-srne-insider-acquires-29001-shares-of-stock.html. The stock boasts a consensus analyst "Buy" rating with the consensus recommendation standing at 2.00. Sorrento Therapeutics Inc (NASDAQ:SRNE) has declined 73.31% since June 16, 2016 and is downtrending. The rating was reinitiated by MLV with "Buy" on Monday, August 3. The firm has "Buy" rating given on Wednesday, November 25 by Brean Capital. Wildcat Capital Management, Llc owns $4.9 million in Sorrento Therapeutics, Inc., which represents roughly 3.63% of the company's market cap and approximately 21.3% of the institutional ownership. (SRNE) was up +9.37% during the last trading session, with a day high of 1.80. About 627 shares traded.

07/12/2016 - Sorrento Therapeutics, Inc. had its "buy" rating reiterated by analysts at Brean Capital. It has underperformed by 90.01% the S&P500.The move comes after 8 months positive chart setup for the $172.60M company.

Price to Sale ratio of SRNE stands at 10.01 while Price to Book Ratio stands at 1.41. $15,450 worth of Sorrento Therapeutics Inc (NASDAQ:SRNE) was bought by Herde Kevin. Shares for $15,450 were bought by Janda Kim. 10,000 shares were bought by SHAH JAISIM, worth $51,500 on Friday, February 3. 40,000 shares were sold by Ng George K, worth $206,000 on Friday, February 3. 5,000 shares were bought by Wu Yue Alexander, worth $25,750.

In other news, major shareholder Abg Management Ltd bought 550,000 shares of the business's stock in a transaction on Wednesday, April 19th. State Street Corp now owns 514,597 shares of the biopharmaceutical company's stock worth $2,519,000 after buying an additional 29,076 shares during the period.

Sorrento Therapeutics, Inc.is a biopharmaceutical company. The company has market cap of $166.79 million. The Firm is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. The company's current price-earnings ratio amounts above the average P/E ratio of 220.62 times earnings. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain.

Investors sentiment increased to 1.38 in 2016 Q4. Its up 0.62, from 0.76 in 2016Q3. Schwab Charles Inv Management holds 39,855 shares. Pnc Services Group Inc reported 2,400 shares. A total of 15.43 million shares exchanged at hands and its average trading volume is standing at 2.98 million shares. 29,135 are owned by Glenmede Trust Na.

Alliancebernstein Lp accumulated 38,800 shares.

Yet another important factor while evaluating a good buy/sell decision for Sorrento Therapeutics, Inc. Following the completion of the transaction, the chief executive officer now directly owns 139,776 shares of the company's stock, valued at approximately $279,552. Massachusetts-based Cormorant Asset Mgmt Ltd Liability has invested 1.26% in Sorrento Therapeutics Inc (NASDAQ:SRNE).

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 1.5 out of the scale from 1 to 5 where 1 stands for Buy and 5 means Sell. Inside the closing six months period the stock's performance raised 24.27% while overall yearly performance gained 22.45%. Deutsche Retail Bank Ag holds 109,274 shares. The rating was initiated by TH Capital with "Buy" on Monday, October 3. The firm has "Underperform" rating by Wells Fargo given on Wednesday, May 4.

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