US Bancorp DE boosted its position in Sorrento Therapeutics, Inc. (NASDAQ:SRNE) by 10.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,840 shares of the biopharmaceutical company’s stock after acquiring an additional 2,350 shares during the period. US Bancorp DE’s holdings in Sorrento Therapeutics were worth $251,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC purchased a new stake in Sorrento Therapeutics in the 1st quarter worth approximately $31,000. Credit Agricole S A acquired a new position in shares of Sorrento Therapeutics in the 1st quarter valued at $41,000. Sowell Financial Services LLC boosted its holdings in shares of Sorrento Therapeutics by 86.7% in the 1st quarter. Sowell Financial Services LLC now owns 6,363 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 2,955 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Sorrento Therapeutics by 836.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,901 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 9,737 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Sorrento Therapeutics in the 1st quarter valued at $103,000. 26.01% of the stock is owned by hedge funds and other institutional investors.
Shares of SRNE opened at $8.08 on Friday. The firm has a market cap of $2.41 billion, a PE ratio of -6.97 and a beta of 2.35. The company’s fifty day moving average is $8.50 and its two-hundred day moving average is $8.42. Sorrento Therapeutics, Inc. has a fifty-two week low of $5.17 and a fifty-two week high of $17.25. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.
In related news, Director Kim Janda sold 8,000 shares of Sorrento Therapeutics stock in a transaction on Monday, September 13th. The shares were sold at an average price of $8.04, for a total transaction of $64,320.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.40% of the stock is owned by company insiders.
Sorrento Therapeutics Company Profile
Sorrento Therapeutics, Inc engages in the research, development and manufacture of biopharmaceutical products. It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars, immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates.
Featured Story: Why does the United States have a lingering trade deficit?
Want to see what other hedge funds are holding SRNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sorrento Therapeutics, Inc. (NASDAQ:SRNE).
Receive News & Ratings for Sorrento Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sorrento Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.