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

StockNews.com began coverage on shares of Sorrento Therapeutics (NASDAQ:SRNEFree Report) in a report released on Friday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Sorrento Therapeutics Price Performance

Shares of SRNE opened at $0.03 on Friday. The business has a 50-day moving average of $0.07 and a 200-day moving average of $0.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 0.88. Sorrento Therapeutics has a 1 year low of $0.16 and a 1 year high of $3.09.

Institutional Investors Weigh In On Sorrento Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Moors & Cabot Inc. increased its holdings in Sorrento Therapeutics by 431.9% in the first quarter. Moors & Cabot Inc. now owns 62,500 shares of the biopharmaceutical company’s stock worth $146,000 after purchasing an additional 50,750 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in Sorrento Therapeutics by 156.5% in the second quarter. Atria Wealth Solutions Inc. now owns 68,425 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 41,750 shares in the last quarter. Point72 Middle East FZE bought a new stake in Sorrento Therapeutics in the fourth quarter worth approximately $116,000. US Bancorp DE increased its holdings in Sorrento Therapeutics by 31.2% in the first quarter. US Bancorp DE now owns 41,810 shares of the biopharmaceutical company’s stock worth $97,000 after purchasing an additional 9,941 shares in the last quarter. Finally, Creative Planning increased its holdings in Sorrento Therapeutics by 23.1% in the second quarter. Creative Planning now owns 47,318 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 8,880 shares in the last quarter. 34.48% of the stock is currently owned by institutional investors.

Sorrento Therapeutics Company Profile

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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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