Sorrento Therapeutics Inc. (NASDAQ:SRNE) traded down 1.4% during mid-day trading on Monday . The stock traded as low as $6.43 and last traded at $6.53, with a volume of 113,929 shares trading hands. The stock had previously closed at $6.62.

Several equities research analysts have issued reports on the stock. Rodman & Renshaw reiterated a “buy” rating on shares of Sorrento Therapeutics in a research report on Wednesday, June 8th. FBR & Co reiterated a “buy” rating on shares of Sorrento Therapeutics in a research report on Thursday, August 4th. Finally, Brean Capital reiterated a “buy” rating on shares of Sorrento Therapeutics in a research report on Friday, August 12th. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $24.20.

The firm’s market capitalization is $375.93 million. The firm has a 50 day moving average price of $6.49 and a 200 day moving average price of $6.25.

In other news, major shareholder Patrick Soon-Shiong sold 37,792 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $6.15, for a total value of $232,420.80. Following the transaction, the insider now owns 736,146 shares in the company, valued at approximately $4,527,297.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Sorrento Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain. It is also developing therapeutic products for other indications, including immunology and infectious diseases.

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