Sorrento Therapeutics Inc. (NASDAQ: SRNE) is 3.59% higher on its value in year-to-date trading and has touched a low of $1.55 and a high of $19.39 in the current 52-week trading range. The SRNE stock was last observed hovering at around $7.07 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $21.00 for the next 12 months. It is also 66.33% off the consensus price target high of $21.00 offered by 1 analysts, but current levels are 66.33% higher than the price target low of $21.00 for the same period.
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Currently trading at $7.07, the stock is -6.02% and -3.53% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.24 million and changing 0.00% at the moment leaves the stock 3.70% off its SMA200. SRNE registered 105.52% gain for a year compared to 6-month gain of -4.20%. The firm has a 50-day simple moving average (SMA 50) of $7.48 and a 200-day simple moving average (SMA200) of $8.41.
The stock witnessed a -11.29% loss in the last 1 month and extending the period to 3 months gives it a -34.96%, and is -5.10% 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 7.01% over the week and 7.68% over the month.
Sorrento Therapeutics Inc. (SRNE) has around 310 employees, a market worth around $1.97B and $41.50M in sales. Fwd P/E is 2.05. Distance from 52-week low is 356.13% and -63.54% 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”. 1 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”. 1 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 05/11/2021 and quarterly earnings per share for the current quarter are estimated at $5.79 with sales reaching $2.02B over the same period.The EPS is expected to shrink by -14.80% this year, but quarterly earnings will post 6,412.00% year-over-year. Quarterly sales are estimated to grow 15,400.20% in year-over-year returns.
Sorrento Therapeutics Inc. (SRNE) Top Institutional Holders
267 institutions hold shares in Sorrento Therapeutics Inc. (SRNE), with 40.12M shares held by insiders accounting for 15.71% while institutional investors hold 33.19% of the company’s shares. The shares outstanding are 251.21M, and float is at 221.63M with Short Float at 31.12%. Institutions hold 27.97% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 15.02 million shares valued at $167.43 million. The investor’s holdings represent 5.71% of the SRNE Shares outstanding. As of Sep 29, 2020, the second largest holder is State Street Corporation with 11.71 million shares valued at $130.55 million to account for 4.45% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 11.1 million shares representing 4.22% and valued at over $123.79 million, while Cormorant Asset Management, LP holds 2.28% of the shares totaling 6.0 million with a market value of $66.9 million.
Sorrento Therapeutics Inc. (SRNE) Insider Activity
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 21.73% up over the past 12 months. Short interest in the company’s stock has fallen -9.29% from the last report on Nov 12, 2020 to stand at a total of 75.39 million short shares sold with a short interest ratio of 4.72.