How Have Sorrento Therapeutics Inc. (SRNE) Insiders Been Trading?

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Sorrento Therapeutics Inc. (NASDAQ:SRNE) finished Thursday with an addition of $0.09 to close at $0.86, an upside of 11.54 percent. An average of 11,994,000 shares of common stock have been traded in the last five days. There was a gain of $0.0280 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 12,179,505 shares traded, while the 50-day average volume stands at 9,366,348.

SRNE stock has decreased by -31.20% in the last month. The company shares reached their 1-month lowest point of $0.7360 on 12/22/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $0.74 and a high of $5.10 in 52 weeks. It has reached a new high 2 times so far this year and lost -81.51% or -$3.7900 in price. In spite of this, the price is down -83.14% from the 52-week high.


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Valuation Metrics

Sorrento Therapeutics Inc. (SRNE) stock’s beta is 2.21. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.81, the price-to-book (PB) ratio at 2.97.

Financial Health

The quick ratio of Sorrento Therapeutics Inc. for the three months ended September 29 was 0.80, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.14 and a total debt to equity ratio of 0.54 for the quarter ending September 29. 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 -70.60%.

Earnings Surprise

For the three-month period that ended September 29, Sorrento Therapeutics Inc. had $47.18 million in cash and short-term investments compared to $17.8 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$89.58 million in the quarter, while revenues of -$218.76 million were shrunk -33.74%. The analyst consensus anticipated Sorrento Therapeutics Inc.’s latest quarter earnings to come in at -$0.25 per share, but it turned out to be -$0.2, a 20.00% surprise. For the quarter, EBITDA amounted to -$15.3 million. Shareholders own equity worth $471.88 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 29 December was 37.38%, suggesting the stock is Neutral, with historical volatility in this time frame at 113.09%.

As of today, SRNE’s price is $0.8004 +3.37% or $0.0280 from its 5-day moving average. SRNE is currently trading -33.85% lower than its 20-day SMA and -68.95% lower than its 100-day SMA. However, the stock’s current price level is -45.91% below the SMA50 and -60.19% below the SMA200.

The stochastic %K and %D were 12.05% and 10.33%, respectively, and the average true range (ATR) was 0.0901. With the 14-day stochastic at 27.31% and the average true range at 0.0961, the RSI (14) stands at 34.82%. The stock has reached -0.0529 on the 9-day MACD Oscillator while the 14-day reading was at -0.1445.

Analyst Ratings

Cantor Fitzgerald launched coverage on Sorrento Therapeutics Inc. (NASDAQ: SRNE) in its analyst report released on November 02, 2022. The firm assigned the stock an Overweight rating.

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