Sorrento Therapeutics (NASDAQ:SRNE) Now Covered by StockNews.com

StockNews.com started coverage on shares of Sorrento Therapeutics (NASDAQ:SRNE) in a report released on Sunday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Sorrento Therapeutics Trading Down 16.7 %

Shares of NASDAQ:SRNE opened at $0.02 on Friday. The company’s 50-day moving average price is $0.02 and its 200 day moving average price is $0.05. Sorrento Therapeutics has a fifty-two week low of $0.00 and a fifty-two week high of $0.42.

Institutional Trading of Sorrento Therapeutics

Several hedge funds have recently bought and sold shares of the company. State Street Corp raised its position in shares of Sorrento Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 40,669,276 shares of the biopharmaceutical company’s stock worth $63,851,000 after buying an additional 1,008,177 shares in the last quarter. BlackRock Inc. raised its position in shares of Sorrento Therapeutics by 0.7% during the 3rd quarter. BlackRock Inc. now owns 34,179,567 shares of the biopharmaceutical company’s stock worth $53,664,000 after buying an additional 229,010 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Sorrento Therapeutics by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 22,516,574 shares of the biopharmaceutical company’s stock worth $35,351,000 after buying an additional 1,620,150 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Sorrento Therapeutics by 25.3% during the 4th quarter. Geode Capital Management LLC now owns 8,905,936 shares of the biopharmaceutical company’s stock worth $7,890,000 after buying an additional 1,797,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Sorrento Therapeutics by 23.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,508,377 shares of the biopharmaceutical company’s stock worth $3,108,000 after buying an additional 674,716 shares in the last quarter. 0.02% of the stock is currently owned by institutional investors.

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.