Weekly Performance Analysis for Sorrento Therapeutics Inc. (SRNE)

Sorrento Therapeutics Inc. (NASDAQ:SRNE) saw a downside of -0.46% to close Monday at $6.46 after subtracting -$0.03 on the day. The 5-day average trading volume is 3,579,420 shares of the company’s common stock. It has gained $6.72 in the past week. An average of 5,058,370 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,911,112.

SRNE’s 1-month performance is -18.43% or -$1.46 on its low of $6.14 reached on 10/05/21. The company’s shares have touched a 52-week low of $5.17 and high of $17.25, with the stock’s rally to the 52-week high happening on 02/08/21. YTD, SRNE has lost -5.35% or -$0.36. However, the current price is down -62.55%% from the 52-week high price.


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Insider Transactions

On Sep 27, 15 days have gone by since the last insider trading activity for Sorrento Therapeutics Inc. (SRNE). Janda Kim (Director) most recently sold 42,357 shares at $8.02 per share on Sep 27. This transaction cost the insider $339,720. Director, Janda Kim, sold 8,000 shares at a price of $8.04 on Sep 13. Then, on Apr 12, Director Janda Kim sold 1,900 shares at a price of $6.97 per share. This transaction amounted to $13,251.

Valuation Metrics

Sorrento Therapeutics Inc. (SRNE) has a trailing price-to-earnings (P/E) ratio of 34.65 for the broader industry and 32.24 for the sector. The company’s PE ratio for the last five years has touched a high of 248.75 and a low of 43.18. SRNE stock has a beta of 2.32. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 39.08 while the price-to-book (PB) in the most recent quarter is 10.09.

Sorrento Therapeutics Inc.’s quick ratio for the period ended June 29 was 0.80, with the current ratio over the same period at 0.90 meaning that SRNE stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.44, while the total debt to equity was 0.60. In terms of profitability, the gross margin trailing 12 months is 77.00%. The trailing 12-month EBITDA margin is -467.21%. The firm’s gross profit as reported stood at $30.05 million against revenue of $39.99 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Sorrento Therapeutics Inc.’s cash and short-term investments amounted to $34.41 million against total debt of $164.74 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 33.31% to $13.51 million, while revenue of $14.26 million was -5.55% off the previous quarter. Analysts expected SRNE to announce -$0.2 per share in earnings in its latest quarter, but it posted -$0.57, representing a -185.00% surprise. EBITDA for the quarter stood at more than -$97.41 million. SRNE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 593.39 million, with total debt at $164.74 million. Shareholders hold equity totaling $298.1 million

Technical Picture

Let’s look briefly at Sorrento Therapeutics Inc. (SRNE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 29.80% to suggest the stock is trending oversold, with historical volatility in this time period at 69.93%.

The stock’s 5-day moving average is $6.47, reflecting a +1.73% or $0.11 change from its current price. SRNE is currently trading -19.65% above its 20-day SMA, -7.32% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -21.32% and -24.53% respectively.

Stochastic %K and %D was 18.38% and 16.73% and the average true range (ATR) pointed at 0.36. The RSI (14) points at 32.04%, while the 14-day stochastic is at 15.53% with the period’s ATR at 0.37. The stock’s 9-day MACD Oscillator is pointing at -0.21 and -0.63 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Sorrento Therapeutics Inc. (NASDAQ: SRNE), B. Riley Securities launched coverage with a Buy rating. Analysts offering their rating for SRNE stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate SRNE as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.

What is SRNE’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $19.00 and a high of $26.00, with their median price target at $22.50. Looking at these predictions, the average price target given by analysts is for Sorrento Therapeutics Inc. (SRNE) stock is $22.50.

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