Sorrento Therapeutics Inc. (SRNE) Volatility At 10.05%, Should You Add A Position?

Sorrento Therapeutics Inc. (NASDAQ: SRNE) is 39.19% 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 $7.99 in the last trading session, with the day’s gains setting it 1.51% off its average median price target of $25.50 for the next 12 months. It is also 68.33% off the consensus price target high of $30.00 offered by 2 analysts, but current levels are 54.76% higher than the price target low of $21.00 for the same period.

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Currently trading at $9.50, the stock is 29.11% and 30.18% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 55.69 million and changing 18.90% at the moment leaves the stock 35.06% off its SMA200. SRNE registered 114.93% gain for a year compared to 6-month gain of 36.30%. The firm has a 50-day simple moving average (SMA 50) of $7.60 and a 200-day simple moving average (SMA200) of $8.52.

The stock witnessed a 35.14% loss in the last 1 month and extending the period to 3 months gives it a -8.57%, and is 27.69% up 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 10.05% over the week and 8.41% over the month.

Sorrento Therapeutics Inc. (SRNE) has around 310 employees, a market worth around $2.48B and $41.50M in sales. Fwd P/E is 2.76. Distance from 52-week low is 512.90% and -51.01% 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 05/11/2021 and quarterly earnings per share for the current quarter are estimated at $5.75 with sales reaching $2.01B over the same period.The EPS is expected to shrink by -14.80% this year, but quarterly earnings will post 6,387.80% year-over-year. Quarterly sales are estimated to grow 15,337.20% 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

A total of 0 insider transactions have happened at Sorrento Therapeutics Inc. (SRNE) in the last six months, with sales accounting for 0 and purchases happening 0 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.

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

The company’s main competitors (and peers) include Exelixis Inc. (EXEL) that is trading 16.07% up over the past 12 months. Short interest in the company’s stock has risen 6.36% from the last report on Nov 29, 2020 to stand at a total of 68.91 million short shares sold with a short interest ratio of 5.1.

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