What Next for Sorrento Therapeutics, Inc. (SRNE) Stock After Today’s Big Increase?

February 15, 2018 - By Richard Conner

Investors sentiment decreased to 0.67 in 2017 Q3. Its down 0.11, from 0.78 in 2017Q2. It fall, as 9 investors sold Sorrento Therapeutics, Inc. shares while 12 reduced holdings. 3 funds opened positions while 11 raised stakes. 8.31 million shares or 22.78% less from 10.76 million shares in 2017Q2 were reported.
Wells Fargo And Mn accumulated 2,500 shares or 0% of the stock. Morgan Stanley accumulated 5,687 shares. Barclays Public Limited Company holds 30,700 shares or 0% of its portfolio. Jpmorgan Chase And Com reported 76,169 shares. Gofen & Glossberg Limited Liability Il accumulated 0% or 10,000 shares. Gagnon Ltd Llc has invested 0.02% in Sorrento Therapeutics, Inc. (NASDAQ:SRNE). Vanguard Grp Inc invested in 2.18M shares. The Kansas-based Creative Planning has invested 0% in Sorrento Therapeutics, Inc. (NASDAQ:SRNE). 233,563 are owned by Renaissance Ltd Limited Liability Company. Citigroup reported 0% in Sorrento Therapeutics, Inc. (NASDAQ:SRNE). Retail Bank Of Mellon accumulated 0% or 33,534 shares. Crow Point Prtnrs Lc accumulated 44,565 shares. State Street holds 0% of its portfolio in Sorrento Therapeutics, Inc. (NASDAQ:SRNE) for 13,700 shares. 33 are held by Royal State Bank Of Canada. Art Advsr Ltd Co invested in 0.01% or 123,455 shares.

Since January 23, 2018, it had 0 insider purchases, and 4 sales for $12.65 million activity. Asia Pacific MedTech (BVI) Ltd sold $5.18M worth of stock.

The stock of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) is a huge mover today! The stock increased 8.57% or $0.7073 during the last trading session, reaching $8.9573. About 4.42 million shares traded or 106.67% up from the average. Sorrento Therapeutics, Inc. (NASDAQ:SRNE) has declined 73.31% since February 15, 2017 and is downtrending. It has underperformed by 90.01% the S&P500.
The move comes after 6 months positive chart setup for the $740.71M company. It was reported on Feb, 15 by Barchart.com. We have $9.41 PT which if reached, will make NASDAQ:SRNE worth $37.04M more.

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

Among 9 analysts covering Sorrento Therapeutics (NASDAQ:SRNE), 9 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Sorrento Therapeutics had 24 analyst reports since July 29, 2015 according to SRatingsIntel. The company was maintained on Wednesday, November 15 by Oppenheimer. The stock has “Buy” rating by H.C. Wainwright on Thursday, June 15. Roth Capital initiated the shares of SRNE in report on Thursday, August 3 with “Buy” rating. The firm has “Buy” rating by H.C. Wainwright given on Wednesday, August 30. The stock of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) earned “Buy” rating by H.C. Wainwright on Monday, September 18. The firm has “Buy” rating by Brean Capital given on Wednesday, July 29. H.C. Wainwright maintained Sorrento Therapeutics, Inc. (NASDAQ:SRNE) rating on Tuesday, June 27. H.C. Wainwright has “Buy” rating and $2000 target. The firm earned “Buy” rating on Wednesday, November 25 by Brean Capital. The stock has “Outperform” rating by FBR Capital on Tuesday, December 22. Rodman & Renshaw maintained the stock with “Buy” rating in Tuesday, April 5 report.

More notable recent Sorrento Therapeutics, Inc. (NASDAQ:SRNE) news were published by: Globenewswire.com which released: “Sorrento Therapeutics CEO Dr Ji to Present at LEERINK Partners 7th Global …” on February 02, 2018, also Globenewswire.com with their article: “Sorrento Therapeutics CAR-T Manufacturing Capacity Expanded With Opening of …” published on January 24, 2018, Fool.com published: “Why Sorrento Therapeutics Inc Jumped Higher Today” on January 22, 2018. More interesting news about Sorrento Therapeutics, Inc. (NASDAQ:SRNE) were released by: Seekingalpha.com and their article: “Sorrento builds on up move, shares ahead 19%” published on January 22, 2018 as well as Prnewswire.com‘s news article titled: “Stock Review for Biotech’s Investors — Sage Therapeutics, Sarepta …” with publication date: February 12, 2018.

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 $740.71 million. It develops therapeutic products for the treatment of auto-immune, inflammatory, neurodegenerative, and infectious diseases. It currently has negative earnings. The firm offers resiniferatoxin, a non-opioid TRPV1 agonist neurotoxin for the treatment of intractable pain at end-stage disease.

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