Short Interest To Observe: Could Sorrento Therapeutics Incorporated (NASDAQ:SRNE) Skyrocket? The Stock Had Too Little Sellers

November 16, 2016 - By Dolores Ford   ·   0 Comments

Short Interest To Observe: Could Sorrento Therapeutics Incorporated (NASDAQ:SRNE) Skyrocket? The Stock Had Too Little Sellers

The stock of Sorrento Therapeutics Incorporated (NASDAQ:SRNE) registered a decrease of 1% in short interest. SRNE’s total short interest was 4.04 million shares in November as published by FINRA. Its down 1% from 4.08M shares, reported previously. With 200,700 shares average volume, it will take short sellers 20 days to cover their SRNE’s short positions. The short interest to Sorrento Therapeutics Incorporated’s float is 9.53%. About 118,924 shares traded hands. Sorrento Therapeutics Inc (NASDAQ:SRNE) has declined 5.80% since April 14, 2016 and is downtrending. It has underperformed by 10.48% the S&P500.

Sorrento Therapeutics, Inc. is a biopharmaceutical company. The company has a market cap of $372.30 million. The Firm is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. It currently has negative earnings. The Company’s primary therapeutic focus is oncology, including the treatment of chronic cancer pain.

Insitutional Activity: The institutional sentiment decreased to 0.63 in 2016 Q2. Its down 0.34, from 0.97 in 2016Q1. The ratio dropped, as 10 funds sold all Sorrento Therapeutics Inc shares owned while 17 reduced positions. 3 funds bought stakes while 14 increased positions. They now own 12.51 million shares or 0.54% less from 12.58 million shares in 2016Q1.
Teachers Advisors reported 44,388 shares or 0% of all its holdings. Commonwealth Of Pennsylvania Public School Empls Retrmt Systems, a Pennsylvania-based fund reported 96,154 shares. Matrix Asset Advsrs Inc has 23,128 shares for 0.03% of their US portfolio. The New York-based Gagnon Secs Llc has invested 0.03% in Sorrento Therapeutics Inc (NASDAQ:SRNE). Rhumbline Advisers reported 29,975 shares or 0% of all its holdings. Blackrock Institutional Tru Communications Na accumulated 626,872 shares or 0% of the stock. Citigroup holds 0% or 6,000 shares in its portfolio. Blackrock Management Ltd Liability Corp has invested 0% of its portfolio in Sorrento Therapeutics Inc (NASDAQ:SRNE). Wells Fargo And Mn owns 17,837 shares or 0% of their US portfolio. Goldman Sachs Grp Inc Inc accumulated 0% or 9,720 shares. Nationwide Fund Advsr holds 0% or 18,347 shares in its portfolio. California Employees Retirement reported 41,200 shares or 0% of all its holdings. Tfs Cap Ltd Liability holds 0.02% of its portfolio in Sorrento Therapeutics Inc (NASDAQ:SRNE) for 21,668 shares. Cam Group Inc Holdg A S, a Denmark-based fund reported 222,981 shares. Botty Ltd last reported 1,500 shares in the company.

Insider Transactions: Since June 13, 2016, the stock had 0 buys, and 3 sales for $466,147 net activity. 19,836 Sorrento Therapeutics Inc (NASDAQ:SRNE) shares with value of $116,477 were sold by SOON-SHIONG PATRICK.

Sorrento Therapeutics Inc (NASDAQ:SRNE) Ratings Coverage

Out of 7 analysts covering Sorrento Therapeutics (NASDAQ:SRNE), 7 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Sorrento Therapeutics has been the topic of 9 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The rating was initiated by FBR Capital on Tuesday, December 22 with “Outperform”. The firm earned “Buy” rating on Monday, August 3 by MLV. TH Capital initiated the shares of SRNE in a report on Monday, October 3 with “Buy” rating. Rodman & Renshaw maintained Sorrento Therapeutics Inc (NASDAQ:SRNE) rating on Tuesday, April 5. Rodman & Renshaw has “Buy” rating and $30 price target. On Wednesday, November 25 the stock rating was maintained by rean with “Buy”. On Wednesday, November 25 the stock rating was maintained by Brean Capital with “Buy”. The company was initiated on Monday, December 7 by H.C. Wainwright. The stock has “Buy” rating given by Rodman & Renshaw on Monday, December 7. The firm earned “Buy” rating on Wednesday, July 29 by Brean Capital.

SRNE Company Profile

Sorrento Therapeutics, Inc., incorporated on December 4, 2009, is a biopharmaceutical company. The Firm is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. The Company’s primary therapeutic focus is oncology, including the treatment of chronic cancer pain. It is also developing therapeutic products for other indications, including immunology and infectious diseases. The Company’s products in the pipeline include Chimeric Antigen Receptor-T Cell (CAR-T) programs for solid tumors, resiniferatoxin (RTX), a non-opiate, ultra-potent and selective agonist of the transient receptor potential cation channel subfamily V member 1 (TRPV-1) receptor for intractable pain in end-stage disease, and biosimilar/biobetter antibodies clinical development programs. The Company’s pipeline also includes preclinical fully human therapeutic monoclonal antibodies (mAbs), including biosimilars/biobetters, fully human anti-PD-L1 and anti-PD-1 checkpoint inhibitors derived from its G-MAB library platform, antibody drug conjugates (ADCs), bispecific antibodies (BsAbs), as well as CAR-T and Chimeric Antigen Receptor Natural Killer (NK) cells (CAR. NK) for adoptive cellular immunotherapy.

More notable recent Sorrento Therapeutics Inc (NASDAQ:SRNE) news were published by: Prnewswire.com which released: “Sorrento Therapeutics Closes Acquisition of Scilex” on November 08, 2016, also Prnewswire.com with their article: “ARK Animal Health, a Subsidiary of Sorrento Therapeutics, Announces Submission …” published on September 27, 2016, Prnewswire.com published: “Sorrento Therapeutics to Attend Jefferies and ROTH Investor Conferences” on November 14, 2016. More interesting news about Sorrento Therapeutics Inc (NASDAQ:SRNE) were released by: Prnewswire.com and their article: “Scintilla Pharmaceuticals, Inc., a Subsidiary of Sorrento Therapeutics, Inc …” published on August 15, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating Sorrento …” with publication date: August 23, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By Dolores Ford

Tags: , ,


Readers Comments (0)





Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>