Last Week, Sorrento Therapeutics Inc. (SRNE) Recorded A Gain Of $50.68

As of Friday close, Sorrento Therapeutics Inc.’s (NASDAQ:SRNE) stock was up $0.13, moving up 10.00 percent to $1.43. The average number of shares traded per day over the past five days has been 10,397,700 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.0900 fall in that time frame. In the last twenty days, the average volume was 9,967,425, while in the previous 50 days, it was 10,053,980.

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Since last month, SRNE stock retreated -29.56%. Shares of the company fell to $1.1500 on 05/12/22, the lowest level in the past month. A 52-week high of $11.07 was reached on 01/04/22 after having rallying from a 52-week low of $1.15. Since the beginning of this year, SRNE’s stock price has dropped by -69.25% or -$3.2200, and marked a new high 2 times. However, the stock has declined by -87.08% since its 52-week high.

Sorrento Therapeutics Inc. (SRNE) last reported insider trading activity 138 days ago on Dec 27. Janda Kim, the Director of the company, disposed of 3,000 shares for $5.88 on Dec 27. It resulted in a $17,640 divestment by the insider. Janda Kim sold 42,357 shares at an average price of $8.02 on Sep 27. The insider now owns 3,000 shares following the transaction. On Sep 13, Director Janda Kim sold 8,000 shares at $8.04 apiece. The transaction was valued at $64,285.

Valuation Metrics

The stock’s beta is 2.43. Besides these, the trailing price-to-sales (P/S) ratio of 9.78, the price-to-book (PB) ratio of 2.13.

Financial Health

In the three months ended September 29, Sorrento Therapeutics Inc.’s quick ratio stood at 1.60, while its current ratio was 1.60, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.42, and the total debt-to-equity ratio was 0.68. On the profitability front, the trailing twelve-month gross margin is 75.40% percent. Based on annual data, SRNE earned $39.87 million in gross profit and brought in $52.9 million in revenue.

In Sorrento Therapeutics Inc.’s quarter-end financial report for September 29, it reported total debt of $96.09 million against cash and short-term investments of $158.75 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SRNE’s revenue rose 22.46% to $13.08 million during the quarter, while net income inched up to $18.39 million. While analysts expected Sorrento Therapeutics Inc. to report -$0.23 quarterly earnings, the actual figure was -$0.4 per share, beating the consensus estimate by -73.90%. During the quarter, the company generated -$111.75 million in EBITDA. The liabilities of Sorrento Therapeutics Inc. were 616.69 million at the end of its most recent quarter ended September 29, and its total debt was $202.56 million. The value of shareholders’ equity is $342.33 million.

Technical Picture

This quick technical analysis looks at Sorrento Therapeutics Inc.’s (SRNE) price momentum. With a historical volatility rate of 121.93%, the RSI 9-day stood at 41.31% on 13 May.

With respect to its five-day moving average, the current Sorrento Therapeutics Inc. price is down by -5.92% percent or -$0.0900. At present, SRNE shares trade -24.34% below its 20-day simple moving average and -75.64% percent below its 100-day simple moving average. However, the stock is currently trading approximately -37.28% below its SMA50 and -82.96% below its SMA200.

Stochastic coefficient K was 24.20% and Stochastic coefficient D was 16.27%, while ATR was 0.1498. Given the Stochastic reading of 44.44% for the 14-day period, the RSI (14) reading has been calculated as 38.36%. As of today, the MACD Oscillator reading stands at -0.1544, while the 14-day reading stands at -0.1917.

With a median target price of $18.00, the current consensus forecast for the stock is $16.00 – $20.00. Based on these forecasts, analysts predict Sorrento Therapeutics Inc. (SRNE) will achieve an average price target of $18.00.


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