Jacobi Capital Management LLC Takes Position in Sorrento Therapeutics, Inc. (NASDAQ:SRNE)

Jacobi Capital Management LLC bought a new stake in shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,700 shares of the biopharmaceutical company’s stock, valued at approximately $31,000.

Several other large investors also recently added to or reduced their stakes in SRNE. BlackRock Inc. lifted its position in shares of Sorrento Therapeutics by 17.3% during the 4th quarter. BlackRock Inc. now owns 17,619,678 shares of the biopharmaceutical company’s stock valued at $120,253,000 after acquiring an additional 2,603,120 shares during the period. STA Wealth Management LLC lifted its position in shares of Sorrento Therapeutics by 250.0% during the 4th quarter. STA Wealth Management LLC now owns 577,500 shares of the biopharmaceutical company’s stock worth $3,941,000 after buying an additional 412,500 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Sorrento Therapeutics by 42.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,020,563 shares of the biopharmaceutical company’s stock worth $6,965,000 after buying an additional 303,959 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Sorrento Therapeutics during the 4th quarter worth $1,787,000. Finally, Northern Trust Corp lifted its position in shares of Sorrento Therapeutics by 9.1% during the 4th quarter. Northern Trust Corp now owns 2,895,917 shares of the biopharmaceutical company’s stock worth $19,765,000 after buying an additional 240,852 shares during the last quarter. Hedge funds and other institutional investors own 27.02% of the company’s stock.

Shares of SRNE stock opened at $8.73 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.35. Sorrento Therapeutics, Inc. has a twelve month low of $4.31 and a twelve month high of $19.39. The company has a market cap of $2.51 billion, a P/E ratio of -9.19 and a beta of 2.36. The stock’s fifty day simple moving average is $7.60.

Sorrento Therapeutics (NASDAQ:SRNE) last announced its quarterly earnings data on Wednesday, May 5th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.23). Sorrento Therapeutics had a negative return on equity of 133.68% and a negative net margin of 496.04%. The business had revenue of $14.26 million for the quarter, compared to the consensus estimate of $17.25 million. On average, analysts anticipate that Sorrento Therapeutics, Inc. will post 1.09 EPS for the current year.

Sorrento Therapeutics Profile

Sorrento Therapeutics, Inc, a clinical stage and commercial biopharmaceutical company, develops therapies for cancer, autoimmune, inflammatory, viral, and neurodegenerative diseases. It operates through two segments, Sorrento Therapeutics and Scilex. The company provides cancer therapeutics by leveraging its proprietary G-MAB antibody library and targeted delivery modalities, which include chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy, and antibody drug conjugates, as well as bispecific antibody approaches; and Sofusa, a drug delivery technology that delivers biologics directly into the lymphatic system.

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Institutional Ownership by Quarter for Sorrento Therapeutics (NASDAQ:SRNE)

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