What Sorrento Therapeutics Inc. (SRNE) Insiders Are Up To


Sorrento Therapeutics Inc. (NASDAQ:SRNE) finished Thursday with a subtraction of -$0.02 to close at $1.62, a downside of -1.22 percent. An average of 8,032,680 shares of common stock have been traded in the last five days. There was a fall of -$0.4700 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 8,030,450 shares traded, while the 50-day average volume stands at 8,854,650.

SRNE stock has decreased by -13.83% in the last month. The company shares reached their 1-month lowest point of $1.5800 on 09/22/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $1.15 and a high of $8.20 in 52 weeks. It has reached a new high 2 times so far this year and lost -65.16% or -$3.0300 in price. In spite of this, the price is down -80.24% from the 52-week high.

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Insider Transactions

270 days have passed since Sorrento Therapeutics Inc. (SRNE) last reported insider trading activity. Janda Kim, who is Director, most recently acquired $3,000 shares at $5.88 per share on Dec 27. In this transaction, the insider spent $17,640. Director, Janda Kim, disposed of 42,357 shares at a price of $8.02 on Sep 27. The insider now owns more than $339,720 worth of shares.

Valuation Metrics

Sorrento Therapeutics Inc. (SRNE) stock’s beta is 2.27. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 14.81, the price-to-book (PB) ratio at 4.91.

Financial Health

The quick ratio of Sorrento Therapeutics Inc. for the three months ended December 30 was 1.20, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.63 and a total debt to equity ratio of 0.81 for the quarter ending December 30. Its gross profit as reported stood at $39.87 million compared to revenue of $52.9 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Sorrento Therapeutics Inc.’s return on assets was -71.40%.

Earnings Surprise

For the three-month period that ended December 30, Sorrento Therapeutics Inc. had $63.26 million in cash and short-term investments compared to $83.07 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$218.76 million in the quarter, while revenues were grew 23.83%. The analyst consensus anticipated Sorrento Therapeutics Inc.’s latest quarter earnings to come in at -$0.29 per share, but it turned out to be -$0.47, a -62.10% surprise. For the quarter, EBITDA amounted to -$115.12 million. Shareholders own equity worth $449.95 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Sorrento Therapeutics Inc. (SRNE) price momentum. RSI 9-day as of the close on 22 September was 28.02%, suggesting the stock is oversold, with historical volatility in this time frame at 45.89%.

As of today, SRNE’s price is $1.7280 -22.49% or -$0.4700 from its 5-day moving average. SRNE is currently trading -20.59% lower than its 20-day SMA and +7.28% higher than its 100-day SMA. However, the stock’s current price level is -41.30% below the SMA50 and -69.14% below the SMA200.

The stochastic %K and %D were 3.36% and 7.33%, respectively, and the average true range (ATR) was 0.1617. With the 14-day stochastic at 4.71% and the average true range at 0.1733, the RSI (14) stands at 34.24%. The stock has reached -0.2444 on the 9-day MACD Oscillator while the 14-day reading was at -0.3331.

Analyst Ratings

B. Riley Securities launched coverage on Sorrento Therapeutics Inc. (NASDAQ: SRNE) in its analyst report released on January 29, 2021. The firm assigned the stock a Buy rating. The consensus rating for Sorrento Therapeutics Inc. (SRNE) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SRNE, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.

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

Analysts predict a range of price targets between $5.00 and $5.00, with a median target of $5.00. Taking a look at these predictions, the average price target given by analysts for Sorrento Therapeutics Inc. (SRNE) stock is $5.00.


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