Sorrento Therapeutics (NASDAQ:SRNE) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Sorrento Therapeutics (NASDAQ:SRNE) in a research report released on Saturday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Sorrento Therapeutics Stock Performance

NASDAQ:SRNE opened at $0.03 on Friday. Sorrento Therapeutics has a twelve month low of $0.16 and a twelve month high of $3.09. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $0.02 and a two-hundred day moving average price of $0.06.

Institutional Investors Weigh In On Sorrento Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SRNE. Frontier Wealth Management LLC acquired a new stake in Sorrento Therapeutics during the 1st quarter valued at $41,000. FMR LLC lifted its holdings in Sorrento Therapeutics by 293.3% during the 2nd quarter. FMR LLC now owns 21,987 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 16,396 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Sorrento Therapeutics during the 2nd quarter valued at $44,000. Captrust Financial Advisors lifted its holdings in Sorrento Therapeutics by 1,299.8% during the 3rd quarter. Captrust Financial Advisors now owns 30,697 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 28,504 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Sorrento Therapeutics by 22.5% during the 4th quarter. Amalgamated Bank now owns 61,373 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 11,289 shares during the last quarter. Institutional investors own 34.48% of the company’s stock.

Sorrento Therapeutics Company Profile

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.