Sorrento Therapeutics Inc (NASDAQ:SRNE) insider Henry Ji acquired 20,000 shares of the stock in a transaction dated Friday, February 10th. The shares were purchased at an average cost of $5.15 per share, with a total value of $103,000.00. Following the completion of the purchase, the insider now owns 37,776 shares of the company’s stock, valued at approximately $194,546.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Sorrento Therapeutics Inc (NASDAQ:SRNE) opened at 5.50 on Friday. Sorrento Therapeutics Inc has a 1-year low of $4.62 and a 1-year high of $8.35. The company has a 50-day moving average of $5.39 and a 200-day moving average of $6.19. The company’s market capitalization is $318.66 million.
Several equities analysts have recently commented on SRNE shares. Roth Capital set a $15.00 price objective on shares of Sorrento Therapeutics and gave the company a “buy” rating in a research note on Wednesday, November 2nd. FBR & Co set a $15.00 price objective on shares of Sorrento Therapeutics and gave the company a “buy” rating in a research note on Thursday, January 12th.
A hedge fund recently raised its stake in Sorrento Therapeutics stock. State Street Corp increased its position in shares of Sorrento Therapeutics Inc (NASDAQ:SRNE) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,597 shares of the biopharmaceutical company’s stock after buying an additional 29,076 shares during the period. State Street Corp owned about 0.89% of Sorrento Therapeutics worth $2,519,000 as of its most recent filing with the SEC. 25.65% of the stock is currently owned by hedge funds and other institutional investors.
About Sorrento Therapeutics
Sorrento Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. Its 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.
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