Institutional Investors Are Buying Sorrento Therapeutics Inc (NASDAQ:SRNE)

June 20, 2018 - By Ellis Scott

Sorrento Therapeutics, Inc. (NASDAQ:SRNE) Logo

Sentiment for Sorrento Therapeutics Inc (NASDAQ:SRNE)

Sorrento Therapeutics Inc (NASDAQ:SRNE) institutional sentiment increased to 5 in 2018 Q1. Its up 3.47, from 1.53 in 2017Q4. The ratio has increased, as 45 funds opened new and increased equity positions, while 9 sold and decreased their positions in Sorrento Therapeutics Inc. The funds in our partner’s database reported: 37.99 million shares, up from 8.46 million shares in 2017Q4. Also, the number of funds holding Sorrento Therapeutics Inc in their top 10 equity positions decreased from 1 to 0 for a decrease of 1. Sold All: 2 Reduced: 7 Increased: 22 New Position: 23.

Sorrento Therapeutics, Inc., a clinical stage biotechnology company, primarily engages in the discovery and development of therapies focused on oncology and the treatment of chronic cancer pain worldwide. The company has market cap of $755.50 million. It develops therapeutic products for the treatment of auto-immune, inflammatory, neurodegenerative, and infectious diseases. It has a 53.85 P/E ratio. The firm offers resiniferatoxin, a non-opioid TRPV1 agonist neurotoxin for the treatment of intractable pain at end-stage disease.

The stock decreased 4.11% or $0.3 during the last trading session, reaching $7. About 4.21M shares traded or 66.12% up from the average. Sorrento Therapeutics, Inc. (NASDAQ:SRNE) has risen 375.76% since June 20, 2017 and is uptrending. It has outperformed by 363.19% the S&P500.

Wildcat Capital Management Llc holds 1.77% of its portfolio in Sorrento Therapeutics, Inc. for 415,765 shares. Lucas Capital Management owns 23,000 shares or 0.13% of their US portfolio. Moreover, A.R.T. Advisors Llc has 0.06% invested in the company for 266,510 shares. The Massachusetts-based Bogle Investment Management L P De has invested 0.06% in the stock. Gsa Capital Partners Llp, a United Kingdom-based fund reported 235,495 shares.

Since January 1, 0001, it had 2 insider buys, and 4 selling transactions for $11.11 million activity.

Sorrento Therapeutics, Inc. (NASDAQ:SRNE) Ratings Coverage

Ratings analysis reveals 100% of Sorrento Therapeutics’s analysts are positive. Out of 2 Wall Street analysts rating Sorrento Therapeutics, 2 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $9.0 while the high is $40. The stock’s average target of $25 is 257.14% above today’s ($7) share price. SRNE was included in 12 notes of analysts from January 19, 2018. The stock has “Buy” rating by H.C. Wainwright on Friday, May 4. H.C. Wainwright maintained it with “Buy” rating and $35.0 target in Tuesday, February 20 report. The rating was maintained by H.C. Wainwright with “Buy” on Thursday, February 1. As per Tuesday, March 6, the company rating was maintained by H.C. Wainwright. As per Monday, May 14, the company rating was maintained by H.C. Wainwright. The stock has “Buy” rating by Oppenheimer on Friday, April 6. H.C. Wainwright maintained it with “Buy” rating and $40 target in Tuesday, April 3 report. On Thursday, March 1 the stock rating was maintained by Oppenheimer with “Buy”. The firm has “Buy” rating given on Friday, January 19 by Oppenheimer. The company was maintained on Monday, June 11 by H.C. Wainwright.

More news for Sorrento Therapeutics, Inc. (NASDAQ:SRNE) were recently published by: Globenewswire.com, which released: “Sorrento Therapeutics issues Chairman/CEO corporate update to stockholders” on June 14, 2018. Businesswire.com‘s article titled: “Loncar Cancer Immunotherapy Index Conducts Semi-Annual Rebalance” and published on June 20, 2018 is yet another important article.

Sorrento Therapeutics, Inc. (NASDAQ:SRNE) Institutional Positions Chart

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