Sorrento Therapeutics Inc (NASDAQ:SRNE) major shareholder Abg Management Ltd sold 70,721 shares of Sorrento Therapeutics stock in a transaction on Monday, February 5th. The shares were sold at an average price of $8.00, for a total transaction of $565,768.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Abg Management Ltd also recently made the following trade(s):

  • On Wednesday, February 7th, Abg Management Ltd sold 150,000 shares of Sorrento Therapeutics stock. The shares were sold at an average price of $7.19, for a total transaction of $1,078,500.00.
  • On Tuesday, January 30th, Abg Management Ltd sold 310,000 shares of Sorrento Therapeutics stock. The shares were sold at an average price of $7.64, for a total transaction of $2,368,400.00.

Shares of Sorrento Therapeutics Inc (NASDAQ:SRNE) opened at $6.80 on Friday. The company has a market cap of $539.39, a price-to-earnings ratio of -16.19 and a beta of 1.94. Sorrento Therapeutics Inc has a one year low of $1.50 and a one year high of $8.25. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.18.

SRNE has been the topic of a number of analyst reports. BidaskClub upgraded shares of Sorrento Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Oppenheimer restated a “buy” rating and set a $9.00 target price on shares of Sorrento Therapeutics in a research note on Friday, January 19th. ValuEngine upgraded shares of Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price (up previously from $20.00) on shares of Sorrento Therapeutics in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $13.67.

A number of hedge funds have recently made changes to their positions in SRNE. Vanguard Group Inc. lifted its stake in Sorrento Therapeutics by 25.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock worth $3,861,000 after purchasing an additional 389,258 shares in the last quarter. Virtu KCG Holdings LLC lifted its stake in Sorrento Therapeutics by 497.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 136,506 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Sorrento Therapeutics by 408.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 41,683 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Sorrento Therapeutics in the 2nd quarter worth $306,000. Finally, Intellectus Partners LLC lifted its stake in Sorrento Therapeutics by 44.7% in the 2nd quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock worth $3,172,000 after purchasing an additional 490,000 shares in the last quarter. Institutional investors and hedge funds own 11.93% of the company’s stock.

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Sorrento Therapeutics Company Profile

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.

Insider Buying and Selling by Quarter for Sorrento Therapeutics (NASDAQ:SRNE)

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