Sorrento Therapeutics Inc. (SRNE) Trading Up 1.5%
Sorrento Therapeutics Inc. (NASDAQ:SRNE)’s share price was up 1.5% during trading on Wednesday . The company traded as high as $6.98 and last traded at $6.66, with a volume of 604,508 shares traded. The stock had previously closed at $6.56.
A number of equities analysts recently commented on SRNE shares. Brean Capital restated a “buy” rating and issued a $15.00 price objective on shares of Sorrento Therapeutics in a report on Friday, July 15th. Rodman & Renshaw reaffirmed a “buy” rating on shares of Sorrento Therapeutics in a research report on Wednesday, June 8th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Sorrento Therapeutics in a research report on Thursday, August 4th. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price of $24.20.
The stock has a 50 day moving average price of $6.50 and a 200 day moving average price of $6.26. The company’s market capitalization is $383.42 million.
In other Sorrento Therapeutics news, major shareholder Patrick Soon-Shiong sold 6,901 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $5.85, for a total transaction of $40,370.85. Following the transaction, the insider now owns 720,174 shares of the company’s stock, valued at approximately $4,213,017.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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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