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

Analysts at StockNews.com began coverage on shares of Sorrento Therapeutics (NASDAQ:SRNEGet Free Report) in a research report issued on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Sorrento Therapeutics Stock Down 20.3 %

Shares of SRNE stock opened at $0.31 on Friday. Sorrento Therapeutics has a one year low of $0.16 and a one year high of $3.09. The stock has a fifty day moving average price of $0.02 and a 200 day moving average price of $0.06. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 0.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Frontier Wealth Management LLC bought a new position in shares of Sorrento Therapeutics during the first quarter valued at $41,000. Verition Fund Management LLC bought a new position in shares of Sorrento Therapeutics during the second quarter valued at $44,000. FMR LLC lifted its holdings in shares of Sorrento Therapeutics by 293.3% during the second quarter. FMR LLC now owns 21,987 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 16,396 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Sorrento Therapeutics by 1,299.8% during the third quarter. Captrust Financial Advisors now owns 30,697 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 28,504 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Sorrento Therapeutics by 22.5% during the fourth quarter. Amalgamated Bank now owns 61,373 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 11,289 shares during the period. 34.48% of the stock is owned by institutional investors.

Sorrento Therapeutics Company Profile

(Get Free Report)

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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