Sorrento Therapeutics (NASDAQ:SRNE) with $14.25 Target At B. Riley FBR.

June 29, 2018 - By Michael Lund

Sorrento Therapeutics, Inc. (NASDAQ:SRNE) Corporate Logo

During Q1 2018 the big money sentiment increased to 5. That’s change of 3.47, from 2017Q4’s 1.53. 2 investors sold all, 7 reduced holdings as Sorrento Therapeutics, Inc. ratio improved. 22 rose holdings while 23 funds acquired holdings. Funds hold 37.99 million shares thus 349.20% more from 2017Q4’s 8.46 million shares.

Moreover, Tci Wealth Advisors has 0% invested in Sorrento Therapeutics, Inc. (NASDAQ:SRNE) for 200 shs. Dimensional Fund Advisors Lp holds 0% or 36,894 shs in its capital. Wells Fargo And Com Mn holds 501,200 shs. California Public Employees Retirement Sys holds 36,800 shs or 0% of its capital. Bridgeway Cap reported 31,500 shs or 0% of all its holdings. State Street owns 0% invested in Sorrento Therapeutics, Inc. (NASDAQ:SRNE) for 5.16M shs. 68,643 were reported by Element Capital Limited Liability Com. Prelude Cap Management Llc has invested 0% in Sorrento Therapeutics, Inc. (NASDAQ:SRNE). New York-based Gotham Asset Management Lc has invested 0.01% in Sorrento Therapeutics, Inc. (NASDAQ:SRNE). Millennium Ltd Liability Corp reported 1.43 million shs stake. Citigroup reported 207,758 shs stake. Verition Fund Mngmt Ltd Co reported 0.01% in Sorrento Therapeutics, Inc. (NASDAQ:SRNE). Alpine Global Lc holds 19,018 shs or 0.02% of its capital. First Republic Invest Mngmt holds 0% in Sorrento Therapeutics, Inc. (NASDAQ:SRNE) or 62,350 shs. Glenmede Co Na, a Pennsylvania-based fund reported 29,135 shs.

Sorrento Therapeutics, Inc. registered $11.11 million net activity with 2 insider buys and 4 selling transactions since January 23, 2018. On Tuesday, January 23 $5.18M worth of stock was sold by Asia Pacific MedTech (BVI) Ltd. Ng George K bought $895,500 worth of stock. 64,600 shs were bought by Ji Henry, worth $642,770 on Wednesday, February 28.

What Price Target Has B. Riley FBR Given Sorrento Therapeutics (NASDAQ:SRNE)

Today analysts note was released, in which B. Riley FBR analyst has begun coverage of Sorrento Therapeutics (NASDAQ:SRNE) with Buy rating. The Stock research analysts give $14.25 target price per share which gives upside potential of 99.30 % on SRNE’s shares.

Sorrento Therapeutics, Inc. (NASDAQ:SRNE) Ratings Coverage

Total analysts of 3 have positions in Sorrento Therapeutics (NASDAQ:SRNE) as follows: 3 rated it a “Buy”, 0 with “Sell” and 0 with “Hold”. The positive are 100%. Since January 19, 2018 according to StockzIntelligence Inc Sorrento Therapeutics has 13 analyst reports. On Tuesday, April 3 the rating was maintained by H.C. Wainwright with “Buy”. On Tuesday, March 6 the rating was maintained by H.C. Wainwright with “Buy”. On Monday, May 14 the firm has “Buy” rating by H.C. Wainwright given. On Monday, June 11 the stock of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) has “Buy” rating given by H.C. Wainwright. On Thursday, March 1 the stock of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) earned “Buy” rating by Oppenheimer. The company rating was maintained by H.C. Wainwright on Tuesday, February 20. In Tuesday, January 23 report H.C. Wainwright maintained the stock with “Buy” rating. The stock rating was maintained by Oppenheimer with “Buy” on Friday, April 6. On Thursday, February 1 the stock of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) earned “Buy” rating by H.C. Wainwright. On Friday, May 4 the company was maintained by H.C. Wainwright.

The stock decreased 0.69% or $0.05 during the last trading session, hitting $7.15.Currently Sorrento Therapeutics, Inc. is uptrending after 375.76% change in last June 29, 2017. SRNE has also 474,802 shares volume. The stock outperformed the S&P 500 by 363.19%.

Sorrento Therapeutics, Inc., a clinical stage biotechnology company, primarily engages in the discovery and development of therapies focused on oncology and the treatment of chronic cancer pain worldwide.The firm is valued at $771.69 million. The firm is focusing on the development of chimeric antigen receptor immunotherapies using autologous T-cells.The P/E ratio is 55. It is developing CD38 Directed CAR-T, a cellular therapy used for the treatment of multiple myeloma, as well as for amyloidosis and graft-versus-host diseases; CD123 Directed CAR-T for the treatment of acute myelogenous leukemia; and human antibodies, including PD-1, PD-L1, CD38, CD123, CD47, c-MET, VEGFR2, CCR2, OX40, TIGIT, and CD137.

Another two news for Sorrento Therapeutics, Inc. (NASDAQ:SRNE) were recently published by: Globenewswire.com on June 14, 2018 with title “Sorrento Therapeutics issues Chairman/CEO corporate update to stockholders”. The other Benzinga.com‘s article was titled “54 Biggest Movers From Yesterday” and published on June 27, 2018.

Sorrento Therapeutics, Inc. (NASDAQ:SRNE) Institutional Investors Chart

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