Sorrento Therapeutics (NASDAQ:SRNE) Now Covered by StockNews.com

Equities researchers at StockNews.com started coverage on shares of Sorrento Therapeutics (NASDAQ:SRNE – Get Rating) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the stock. Dawson James cut shares of Sorrento Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, February 13th. HC Wainwright dropped their target price on shares of Sorrento Therapeutics from $20.00 to $13.00 in a report on Tuesday, January 31st.

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Sorrento Therapeutics Price Performance

Shares of NASDAQ:SRNE opened at $0.24 on Friday. Sorrento Therapeutics has a 1-year low of $0.16 and a 1-year high of $3.09. The company’s fifty day moving average is $0.33 and its two-hundred day moving average is $0.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.88 and a quick ratio of 0.79.

Hedge Funds Weigh In On Sorrento Therapeutics

Institutional investors have recently modified their holdings of the company. Syntegra Private Wealth Group LLC bought a new position in shares of Sorrento Therapeutics during the fourth quarter worth about $26,000. Great West Life Assurance Co. Can bought a new position in Sorrento Therapeutics in the 3rd quarter valued at about $29,000. Jump Financial LLC bought a new position in Sorrento Therapeutics in the 3rd quarter valued at about $35,000. Weaver Consulting Group grew its position in Sorrento Therapeutics by 351.5% in the 4th quarter. Weaver Consulting Group now owns 45,600 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 35,500 shares in the last quarter. Finally, Frontier Wealth Management LLC bought a new position in Sorrento Therapeutics in the 1st quarter valued at about $41,000. Institutional investors own 34.48% of the company’s stock.

About Sorrento Therapeutics

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Sorrento Therapeutics, Inc engages in the research, development and manufacture of biopharmaceutical products. It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars, immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates.

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