Equities researchers at StockNews.com assumed coverage on shares of Sorrento Therapeutics (NASDAQ:SRNE – Get Rating) in a report issued on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.
Sorrento Therapeutics Stock Performance
NASDAQ SRNE opened at $0.36 on Wednesday. Sorrento Therapeutics has a 52 week low of $0.16 and a 52 week high of $3.09. The firm has a 50 day moving average of $0.31 and a two-hundred day moving average of $0.59. The company has a current ratio of 0.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14.
Hedge Funds Weigh In On Sorrento Therapeutics
Large investors have recently bought and sold shares of the business. Mayo Clinic purchased a new position in shares of Sorrento Therapeutics in the 4th quarter valued at about $267,000. B. Riley Financial Inc. acquired a new stake in Sorrento Therapeutics during the fourth quarter worth approximately $4,622,000. Swiss National Bank lifted its position in shares of Sorrento Therapeutics by 17.8% during the 4th quarter. Swiss National Bank now owns 1,086,400 shares of the biopharmaceutical company’s stock worth $963,000 after buying an additional 164,100 shares during the last quarter. Donald L. Hagan LLC boosted its holdings in shares of Sorrento Therapeutics by 13.4% in the 4th quarter. Donald L. Hagan LLC now owns 169,514 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 20,037 shares in the last quarter. Finally, Collective Family Office LLC grew its position in shares of Sorrento Therapeutics by 12.7% in the 4th quarter. Collective Family Office LLC now owns 119,420 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 13,500 shares during the last quarter. Hedge funds and other institutional investors own 34.48% of the company’s stock.
About Sorrento Therapeutics
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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