Abg Management Ltd Sells 70,721 Shares of Sorrento Therapeutics Inc (SRNE) Stock

Sorrento Therapeutics Inc (NASDAQ:SRNE) major shareholder Abg Management Ltd sold 70,721 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $8.00, for a total transaction of $565,768.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Abg Management Ltd also recently made the following trade(s):

  • On Tuesday, January 30th, Abg Management Ltd sold 310,000 shares of Sorrento Therapeutics stock. The stock was sold at an average price of $7.64, for a total transaction of $2,368,400.00.

Sorrento Therapeutics Inc (SRNE) opened at $7.05 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.18. Sorrento Therapeutics Inc has a 52 week low of $1.50 and a 52 week high of $8.25.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alambic Investment Management L.P. bought a new stake in shares of Sorrento Therapeutics during the 4th quarter worth $151,000. Acadian Asset Management LLC purchased a new stake in Sorrento Therapeutics in the 4th quarter worth about $200,000. JPMorgan Chase & Co. increased its holdings in Sorrento Therapeutics by 139.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 76,169 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 44,294 shares during the last quarter. Intellectus Partners LLC increased its holdings in Sorrento Therapeutics by 44.7% in the 2nd quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock worth $3,172,000 after acquiring an additional 490,000 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in Sorrento Therapeutics in the 2nd quarter worth about $306,000. Institutional investors own 11.93% of the company’s stock.

Several equities analysts have commented on SRNE shares. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Sorrento Therapeutics in a report on Thursday, February 1st. Oppenheimer reaffirmed a “buy” rating and set a $9.00 price objective on shares of Sorrento Therapeutics in a research report on Friday, January 19th. BidaskClub raised shares of Sorrento Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, January 6th. Finally, ValuEngine raised shares of Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.67.

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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.

Insider Buying and Selling by Quarter for Sorrento Therapeutics (NASDAQ:SRNE)

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