Sorrento Therapeutics Inc. [SRNE] is 15.16% higher this YTD. Is it still time to buy?

Sorrento Therapeutics Inc. [NASDAQ: SRNE] traded at a low on 04/06/21, posting a -4.96 loss after which it closed the day’ session at $7.86. The company report on April 5, 2021 that Sorrento Enters Into Merger Agreement to Acquire Late-Stage Oncology Company ACEA Therapeutics.

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ACEA’s major assets include:.


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Abivertinib (in oral capsule form), a next generation, dual EGFR mutant and BTK inhibitor (BTKi) with a completed NSCLC registrational/Phase 3 trial, Phase 1 B-cell lymphoma study, and ongoing Phase 2 trials in COVID-19 patients with ARDS, and Phase 2 studies for prostate cancer, systemic lupus erythematosus and the ultra-orphan indication of hairy cell leukemia.

The results of the trading session contributed to over 8353768 shares changing hands. Over the past one week, the price volatility of Sorrento Therapeutics Inc. stands at 6.53% while the volatility over the past one month is 7.20%.

The market cap for SRNE stock reached $2.27 billion, with 268.14 million shares outstanding and 230.66 million shares in the current float. Compared to the average trading volume of 16.96M shares, SRNE reached a trading volume of 8353768 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Sorrento Therapeutics Inc. [SRNE]?

B. Riley Securities have made an estimate for Sorrento Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 29, 2021. While these analysts kept the previous recommendation, Alliance Global Partners raised their target price to Buy. The new note on the price target was released on January 21, 2021, representing the official price target for Sorrento Therapeutics Inc. stock. Previously, the target price had yet another raise from $24 to $30, while H.C. Wainwright kept a Buy rating on SRNE stock.

The Average True Range (ATR) for Sorrento Therapeutics Inc. is set at 0.71, with the Price to Sales ratio for SRNE stock in the period of the last 12 months amounting to 56.87. The Price to Book ratio for the last quarter was 12.68.

How has SRNE stock performed recently?

Sorrento Therapeutics Inc. [SRNE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.32. With this latest performance, SRNE shares dropped by -11.49% in over the last four-week period, additionally sinking by -24.28% over the last 6 months – not to mention a rise of 216.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SRNE stock in for the last two-week period is set at 35.96, with the RSI for the last a single of trading hit 32.98, and the three-weeks RSI is set at 39.41 for Sorrento Therapeutics Inc. [SRNE]. The present Moving Average for the last 50 days of trading for this stock 11.08, while it was recorded at 8.08 for the last single week of trading, and 9.06 for the last 200 days.

Sorrento Therapeutics Inc. [SRNE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Sorrento Therapeutics Inc. [SRNE] shares currently have an operating margin of -503.99 and a Gross Margin at +51.68. Sorrento Therapeutics Inc.’s Net Margin is presently recorded at -746.41.

Return on Total Capital for SRNE is now -63.61, given the latest momentum, and Return on Invested Capital for the company is -93.64. Return on Equity for this stock declined to -244.90, with Return on Assets sitting at -49.06. When it comes to the capital structure of this company, Sorrento Therapeutics Inc. [SRNE] has a Total Debt to Total Equity ratio set at 102.57. Additionally, SRNE Total Debt to Total Capital is recorded at 50.63, with Total Debt to Total Assets ending up at 28.29. Long-Term Debt to Equity for the company is recorded at 86.32, with the Long-Term Debt to Total Capital now at 42.61.

Reflecting on the efficiency of the workforce at the company, Sorrento Therapeutics Inc. [SRNE] managed to generate an average of -$594,544 per employee. Receivables Turnover for the company is 2.66 with a Total Asset Turnover recorded at a value of 0.07.Sorrento Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Earnings analysis for Sorrento Therapeutics Inc. [SRNE]

With the latest financial reports released by the company, Sorrento Therapeutics Inc. posted -0.36/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -80.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SRNE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sorrento Therapeutics Inc. go to 37.00%.

Insider trade positions for Sorrento Therapeutics Inc. [SRNE]

There are presently around $623 million, or 28.80% of SRNE stock, in the hands of institutional investors. The top three institutional holders of SRNE stocks are: BLACKROCK INC. with ownership of 17,619,678, which is approximately 17.335% of the company’s market cap and around 11.43% of the total institutional ownership; STATE STREET CORP, holding 12,675,183 shares of the stock with an approximate value of $99.63 million in SRNE stocks shares; and VANGUARD GROUP INC, currently with $96.76 million in SRNE stock with ownership of nearly 10.875% of the company’s market capitalization.

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Positions in Sorrento Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 134 institutional holders increased their position in Sorrento Therapeutics Inc. [NASDAQ:SRNE] by around 12,717,241 shares. Additionally, 82 investors decreased positions by around 5,698,001 shares, while 40 investors held positions by with 60,834,402 shares. The mentioned changes placed institutional holdings at 79,249,644 shares, according to the latest SEC report filing. SRNE stock had 54 new institutional investments in for a total of 2,256,956 shares, while 43 institutional investors sold positions of 1,339,687 shares during the same period.

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