Sorrento Therapeutics (NASDAQ:SRNE) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Sorrento Therapeutics (NASDAQ:SRNE) in a report released on Saturday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Sorrento Therapeutics Price Performance

SRNE opened at $0.03 on Friday. Sorrento Therapeutics has a one year low of $0.00 and a one year high of $0.42. The business’s 50 day moving average price is $0.02 and its 200 day moving average price is $0.06. The company has a current ratio of 0.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in Sorrento Therapeutics by 7.5% during the second quarter. LPL Financial LLC now owns 116,550 shares of the biopharmaceutical company’s stock worth $234,000 after purchasing an additional 8,146 shares in the last quarter. Creative Planning increased its position in shares of Sorrento Therapeutics by 23.1% during the second quarter. Creative Planning now owns 47,318 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 8,880 shares during the period. US Bancorp DE increased its position in shares of Sorrento Therapeutics by 31.2% during the first quarter. US Bancorp DE now owns 41,810 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 9,941 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Sorrento Therapeutics by 3.9% during the second quarter. UBS Asset Management Americas Inc. now owns 266,443 shares of the biopharmaceutical company’s stock worth $536,000 after acquiring an additional 10,100 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Sorrento Therapeutics by 8.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 141,561 shares of the biopharmaceutical company’s stock worth $285,000 after acquiring an additional 10,846 shares during the period. 34.48% of the stock is currently owned by institutional investors and hedge funds.

About Sorrento Therapeutics

Sorrento Therapeutics, Inc engages in the research, development and manufacture of biopharmaceutical products. It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars, immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates.