Sorrento Therapeutics Inc. (NASDAQ: SRNE) is 199.16% higher on its value in year-to-date trading and has touched a low of $0.30 and a high of $1.66 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 $1.09 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $5.00 for the next 12 months. It is also 78.6% off the consensus price target high of $5.00 offered by 2 analysts, but current levels are 78.6% higher than the price target low of $5.00 for the same period.
Currently trading at $1.07, the stock is 43.86% and 75.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.26 million and changing -1.83% at the moment leaves the stock 46.27% off its SMA200. SRNE registered -36.44% loss for a year compared to 6-month loss of 1.95%.
The stock witnessed a 209.11% gain in the last 1 month and extending the period to 3 months gives it a 82.80%, and is -5.31% 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 7.33% over the week and 10.32% over the month.
Sorrento Therapeutics Inc. (SRNE) has around 799 employees, a market worth around $537.35M and $60.30M in sales. Distance from 52-week low is 260.13% and -35.35% from its 52-week high. The company has generated returns on investments over the last 12 months (-169.30%).
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 05/15/2023.The EPS is expected to shrink by -11.90% this year.
Sorrento Therapeutics Inc. (SRNE) Top Institutional Holders
The shares outstanding are 471.88M, and float is at 465.68M with Short Float at 28.25%.
Sorrento Therapeutics Inc. (SRNE) Insider Activity
A total of 8 insider transactions have happened at Sorrento Therapeutics Inc. (SRNE) in the last six months, with sales accounting for 0 and purchases happening 8 times. The most recent transaction is an insider purchase by Ji Henry. SEC filings show that Ji Henry bought 88,888 shares of the company’s common stock on Sep 07 at a price of $2.02 per share for a total of $0.18 million. Following the purchase, the insider now owns 4.77 million shares.
Sorrento Therapeutics Inc. disclosed in a document filed with the SEC on Sep 06 that Ji Henrybought a total of 55,555 shares of the company’s common stock. The trade occurred on Sep 06 and was made at $1.96 per share for $0.11 million. Following the transaction, the insider now directly holds 4.68 million shares of the SRNE stock.
Still, SEC filings show that on Aug 26, Ji Henry () acquired 33,333 shares at an average price of $2.11 for $70333.0. The insider now directly holds 2,121,362 shares of Sorrento Therapeutics Inc. (SRNE).
Sorrento Therapeutics Inc. (SRNE): Who are the competitors?
The company’s main competitors (and peers) include Exelixis Inc. (EXEL) that is trading -0.06% down over the past 12 months and Karyopharm Therapeutics Inc. (KPTI) that is -57.96% lower over the same period.