StockNews.com Begins Coverage on Sorrento Therapeutics (NASDAQ:SRNE)

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

Sorrento Therapeutics Trading Down 11.4 %

Shares of Sorrento Therapeutics stock opened at $0.19 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 0.88. Sorrento Therapeutics has a one year low of $0.16 and a one year high of $3.09. The firm has a fifty day moving average of $0.25 and a two-hundred day moving average of $0.29.

Hedge Funds Weigh In On Sorrento Therapeutics

Large investors have recently bought and sold shares of the company. Frontier Wealth Management LLC purchased a new position in Sorrento Therapeutics during the 1st quarter worth $41,000. Verition Fund Management LLC acquired a new position in shares of Sorrento Therapeutics during the 2nd quarter worth $44,000. FMR LLC grew its stake in shares of Sorrento Therapeutics by 293.3% during the 2nd quarter. FMR LLC now owns 21,987 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 16,396 shares during the period. Advisory Services Network LLC acquired a new position in shares of Sorrento Therapeutics during the 1st quarter worth $58,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Sorrento Therapeutics during the 1st quarter worth $62,000. Hedge funds and other institutional investors own 34.48% of the company’s stock.

Sorrento Therapeutics Company Profile

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.