267 institutions hold shares in Sorrento Therapeutics Inc. (SRNE), with 42.85M shares held by insiders accounting for 15.71% while institutional investors hold 33.19% of the company’s shares. The shares outstanding are 268.14M, and float is at 230.66M with Short Float at 26.02%. Institutions hold 27.97% of the Float.
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The top institutional shareholder in the company is Blackrock Inc. with over 17.62 million shares valued at $120.25 million. The investor’s holdings represent 6.70% 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. (NASDAQ: SRNE) is 92.67% 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 question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SRNE stock was last observed hovering at around $12.81 in the last trading session, with the day’s gains setting it 0.34% off its average median price target of $28.00 for the next 12 months. It is also 62.43% off the consensus price target high of $35.00 offered by 4 analysts, but current levels are 37.38% higher than the price target low of $21.00 for the same period.
Currently trading at $13.15, the stock is -1.88% and 31.95% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 10.98 million and changing 2.65% at the moment leaves the stock 59.59% off its SMA200. SRNE registered 396.23% gain for a year compared to 6-month loss of 18.90%. The firm has a 50-day simple moving average (SMA 50) of $11.40 and a 200-day simple moving average (SMA200) of $9.35.
The stock witnessed a 31.11% gain in the last 1 month and extending the period to 3 months gives it a 97.74%, and is -11.92% 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 7.45% over the week and 13.30% over the month.
Sorrento Therapeutics Inc. (SRNE) has around 310 employees, a market worth around $3.37B and $41.50M in sales. Fwd P/E is 6.86. Distance from 52-week low is 748.39% and -32.18% from its 52-week high.
Sorrento Therapeutics Inc. (SRNE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Sorrento Therapeutics Inc. (SRNE) is a “Buy”. 4 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”. 4 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 $0.36 with sales reaching $20.56M over the same period.The EPS is expected to grow by 180.00% this year, but quarterly earnings will post 2,686.20% year-over-year. Quarterly sales are estimated to grow 166.30% in year-over-year returns.
Sorrento Therapeutics Inc. (SRNE) Insider Activity
The most recent transaction is an insider sale by Followwill Dorman, the company’s Director. SEC filings show that Followwill Dorman sold 1,000 shares of the company’s common stock on Dec 16 at a price of $7.14 per share for a total of $7135.0. Following the sale, the insider now owns 2130.0 shares.
Sorrento Therapeutics Inc. disclosed in a document filed with the SEC on Mar 05 that Smith Robin L (Director) bought a total of 40,000 shares of the company’s common stock. The trade occurred on Mar 05 and was made at $2.27 per share for $90896.0. Following the transaction, the insider now directly holds 60000.0 shares of the SRNE stock.
Sorrento Therapeutics Inc. (SRNE): Who are the competitors?
The company’s main competitors (and peers) include Exelixis Inc. (EXEL) that is trading 3.40% up over the past 12 months. Short interest in the company’s stock has fallen -22.61% from the last report on Dec 30, 2020 to stand at a total of 73.59 million short shares sold with a short interest ratio of 2.62.