Sorrento Therapeutics Inc. (SRNE) Volatility At 14.12%, Should You Add A Position?

Sorrento Therapeutics Inc. (NASDAQ: SRNE) is 144.97% higher on its value in year-to-date trading and has touched a low of $1.39 and a high of $19.39 in the current 52-week trading range. The SRNE stock was last observed hovering at around $8.13 in the last trading session, with the day’s gains setting it 0.15% off its average median price target of $25.50 for the next 12 months. It is also 72.4% off the consensus price target high of $30.00 offered by 2 analysts, but current levels are 60.57% higher than the price target low of $21.00 for the same period.

Currently trading at $8.28, the stock is -29.07% and -6.35% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 14.94 million and changing 1.85% at the moment leaves the stock 81.09% off its SMA200. SRNE registered 285.12% gain for a year compared to 6-month gain of 274.66%. The firm has a 50-day simple moving average (SMA 50) of $9.98 and a 200-day simple moving average (SMA200) of $5.14.

The stock witnessed a -3.16% loss in the last 1 month and extending the period to 3 months gives it a 65.60%, and is -17.53% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 14.12% over the week and 16.93% over the month.

Sorrento Therapeutics Inc. (SRNE) has around 310 employees, a market worth around $1.97B and $35.50M in sales. Fwd P/E is 37.64. Distance from 52-week low is 495.68% and -57.30% from its 52-week high. The company has generated returns on investments over the last 12 months (-91.30%).

Sorrento Therapeutics Inc. (SRNE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Sorrento Therapeutics Inc. (SRNE) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Sorrento Therapeutics Inc. is expected to release its quarterly report on 08/31/2020 and quarterly earnings per share for the current quarter are estimated at -$0.16 with sales reaching $11.53M over the same period.The EPS is expected to shrink by -14.80% this year, but quarterly earnings will post 86.60% year-over-year. Quarterly sales are estimated to grow 99.60% in year-over-year returns.

Sorrento Therapeutics Inc. (SRNE) Top Institutional Holders

121 institutions hold shares in Sorrento Therapeutics Inc. (SRNE), with 80.22M shares held by insiders accounting for 34.21% while institutional investors hold 27.15% of the company’s shares. The shares outstanding are 216.96M, and float is at 200.97M with Short Float at 26.90%. Institutions hold 17.86% of the Float.

Sorrento Therapeutics Inc. (SRNE) Insider Activity

A total of 1 insider transactions have happened at Sorrento Therapeutics Inc. (SRNE) in the last six months, with sales accounting for 0 and purchases happening 1 times. The most recent transaction is an insider purchase by Smith Robin L, the company’s Director. SEC filings show that Smith Robin L bought 40,000 shares of the company’s common stock on Mar 05 at a price of $2.27 per share for a total of $90896.0. Following the purchase, the insider now owns 60000.0 shares.

Sorrento Therapeutics Inc. (SRNE): Who are the competitors?

The company’s main competitors (and peers) include Exelixis Inc. (EXEL) that is trading 11.04% up over the past 12 months. Short interest in the company’s stock has risen 10.45% from the last report on Jul 14, 2020 to stand at a total of 48.41 million short shares sold with a short interest ratio of 0.9.