Sorrento Therapeutics, Inc. (SRNE) Shares Gap Up to $2.10

Sorrento Therapeutics, Inc. (NASDAQ:SRNE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $2.35, but opened at $2.10. Sorrento Therapeutics shares last traded at $2.58, with a volume of 6,183,185 shares changing hands.

SRNE has been the topic of several recent analyst reports. HC Wainwright set a $20.00 price target on Sorrento Therapeutics and gave the company a “buy” rating in a research note on Tuesday, July 4th. FBR & Co reissued a “buy” rating on shares of Sorrento Therapeutics in a research note on Saturday, June 17th. Oppenheimer Holdings, Inc. set a $7.00 price target on Sorrento Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, Roth Capital initiated coverage on Sorrento Therapeutics in a research note on Thursday, August 3rd. They issued a “buy” rating and a $7.00 price target on the stock. Six research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $11.67.

The stock’s 50-day moving average is $1.77 and its 200 day moving average is $1.98. The firm’s market cap is $172.43 million.

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Sorrento Therapeutics by 2.0% in the 1st quarter. Bank of America Corp DE now owns 152,179 shares of the biopharmaceutical company’s stock worth $601,000 after buying an additional 3,057 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Sorrento Therapeutics by 10.8% during the fourth quarter. Teachers Advisors LLC now owns 41,908 shares of the biopharmaceutical company’s stock valued at $205,000 after purchasing an additional 4,099 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sorrento Therapeutics by 3.8% during the first quarter. Geode Capital Management LLC now owns 366,928 shares of the biopharmaceutical company’s stock valued at $1,449,000 after purchasing an additional 13,495 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Sorrento Therapeutics during the first quarter valued at approximately $108,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Sorrento Therapeutics by 408.4% during the second quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 41,683 shares in the last quarter. Hedge funds and other institutional investors own 16.31% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://sportsperspectives.com/2017/10/10/sorrento-therapeutics-inc-srne-shares-gap-up-to-2-10.html.

About Sorrento Therapeutics

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.

Receive News & Ratings for Sorrento Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sorrento Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply