Sorrento Therapeutics Inc. [NASDAQ: SRNE] gained 4.44% on the last trading session, reaching $8.47 price per share at the time. The company report on June 5, 2021 that Sorrento Announces Positive Results From Its License Partner, Kelun, on a Phase I Study of Safety and Pharmacokinetics of A166, a Novel HER2 ADC for Advanced HER2 Positive Breast Cancers.
A166 (ASCO Abstract #1024) is a third generation antibody drug conjugate (ADC) against HER2-positive breast cancer with Levena’s proprietary tubulin inhibitor Duo-5 toxin, cleavable linker and site-specific K-Lock™ conjugation chemistry.
In this Phase 1 Study, A166 demonstrated a manageable safety profile and high stability in circulation with much lower acute hematological and gastrointestinal toxicities compared to commercial products.
Sorrento Therapeutics Inc. represents 280.60 million in outstanding shares, while the company has a total market value of $2.43 billion with the latest information. SRNE stock price has been found in the range of $8.02 to $8.68.
If compared to the average trading volume of 7.61M shares, SRNE reached a trading volume of 8042734 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 0.50, with the Price to Sales ratio for SRNE stock in the period of the last 12 months amounting to 52.29. The Price to Book ratio for the last quarter was 10.33, with the Price to Cash per share for the same quarter was set at 0.82.
Trading performance analysis for SRNE stock
Sorrento Therapeutics Inc. [SRNE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.63. With this latest performance, SRNE shares gained by 20.83% in over the last four-week period, additionally plugging by 6.27% over the last 6 months – not to mention a rise of 105.58% 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 62.38, with the RSI for the last a single of trading hit 69.01, and the three-weeks RSI is set at 56.98 for Sorrento Therapeutics Inc. [SRNE]. The present Moving Average for the last 50 days of trading for this stock 7.57, while it was recorded at 8.15 for the last single week of trading, and 8.76 for the last 200 days.
Sorrento Therapeutics Inc. [SRNE]: A deeper dive into fundamental analysis
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 2.70 and a Current Ratio set at 2.80.
Sorrento Therapeutics Inc. [SRNE]: An earnings per share (EPS) analysis
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 -0.22/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -63.60%. 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%.
An analysis of insider ownership at Sorrento Therapeutics Inc. [SRNE]
There are presently around $655 million, or 27.30% of SRNE stock, in the hands of institutional investors. The top three institutional holders of SRNE stocks are: BLACKROCK INC. with ownership of 19,409,333, which is approximately 10.157% of the company’s market cap and around 11.22% of the total institutional ownership; VANGUARD GROUP INC, holding 13,554,519 shares of the stock with an approximate value of $114.81 million in SRNE stocks shares; and STATE STREET CORP, currently with $82.89 million in SRNE stock with ownership of nearly -22.788% of the company’s market capitalization.
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 117 institutional holders increased their position in Sorrento Therapeutics Inc. [NASDAQ:SRNE] by around 10,733,139 shares. Additionally, 99 investors decreased positions by around 12,586,398 shares, while 45 investors held positions by with 54,050,441 shares. The mentioned changes placed institutional holdings at 77,369,978 shares, according to the latest SEC report filing. SRNE stock had 49 new institutional investments in for a total of 3,121,056 shares, while 33 institutional investors sold positions of 1,301,082 shares during the same period.