Sorrento Tech (ROKA) Hits New 52-Week Low at $0.65

Sorrento Tech Inc (NASDAQ:ROKA)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $0.65 and last traded at $0.95, with a volume of 151000 shares trading hands. The stock had previously closed at $0.99.

In related news, major shareholder Orbimed Advisors Llc sold 474,676 shares of Sorrento Tech stock in a transaction on Friday, September 29th. The shares were sold at an average price of $0.72, for a total transaction of $341,766.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 803,894 shares of company stock worth $603,915 in the last ninety days. 29.20% of the stock is currently owned by insiders.

A hedge fund recently bought a new stake in Sorrento Tech stock. AWM Investment Company Inc. purchased a new position in shares of Sorrento Tech Inc (NASDAQ:ROKA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 132,297 shares of the medical research company’s stock, valued at approximately $352,000. AWM Investment Company Inc. owned 2.64% of Sorrento Tech at the end of the most recent reporting period. 48.14% of the stock is owned by hedge funds and other institutional investors.

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About Sorrento Tech

Sorrento Tech, Inc, formerly Roka Bioscience, Inc, is a molecular diagnostics company. The Company is focused on the development and commercialization of molecular assay technologies for the detection of foodborne pathogens under the Atlas brand name. The Company offers Atlas Detection Assays and Atlas instrument in the North American food safety testing market and has rights to develop and commercialize its molecular testing solutions for a range of other industrial applications.

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