Why Sorrento Therapeutics' Stock Is Trading Higher Today Sorrento Therapeutics (NASDAQ: SRNE) shares are trading higher after the company announced dosing of COVID-19 patients in its Phase 2 clinical trial for COVIDROPS, a neutralizing antibody against SARS-CoV-2.
Full Answer
What happened to Sorrento Therapeutics stock?
The Sorrento Therapeutics stock price gained 6.33% on the last trading day (Friday, 17th Jun 2022), rising from $1.58 to $1.68. During the day the stock fluctuated 8.61% from a day low at $1.60 to a day high of $1.74. The price has been going up and down for this period, and there has been a -1.75% loss for the last 2 weeks.
How much is a share of Sorrento worth?
One share of SRNE stock can currently be purchased for approximately $3.81. How much money does Sorrento Therapeutics make? Sorrento Therapeutics has a market capitalization of $1.17 billion and generates $39.99 million in revenue each year.
Will Sorrento Therapeutics (srne) outperform or underperform the S&P 500?
MarketBeat's community ratings are surveys of what our community members think about Sorrento Therapeutics and other stocks. Vote “Outperform” if you believe SRNE will outperform the S&P 500 over the long term. Vote “Underperform” if you believe SRNE will underperform the S&P 500 over the long term. You may vote once every thirty days.
Is Sorrento Therapeutics's PE ratio overvalued or undervalued?
The P/E ratio of Sorrento Therapeutics is -3.10, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Sorrento Therapeutics has a P/B Ratio of 7.06. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
Will Sorrento Therapeutics stock go up?
The 2 analysts offering 12-month price forecasts for Sorrento Therapeutics Inc have a median target of 18.00, with a high estimate of 20.00 and a low estimate of 16.00. The median estimate represents a +971.43% increase from the last price of 1.68.
Is Sorrento Therapeutics stock a buy?
Sorrento Therapeutics has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings.
Why is SRNE stock down today?
Shares of Sorrento Therapeutics (SRNE -5.62%) declined on Monday after a new competing saliva-based COVID-19 test received emergency use authorization from the Food and Drug Administration.
Will SRNE get FDA approval?
(Nasdaq: SRNE, "Sorrento") today announced that it has received clearance from the FDA for its investigational new drug application (IND) for intranasal (IN) STI-9199 (COVISHIELD) to study the safety and pharmacokinetics in healthy volunteers.
Is SRNE undervalued?
Based on Macroaxis valuation methodology, the company appears to be undervalued.
Is Sorrento Therapeutics a good company?
Sorrento Therapeutics has an overall rating of 3.5 out of 5, based on over 74 reviews left anonymously by employees. 76% of employees would recommend working at Sorrento Therapeutics to a friend and 64% have a positive outlook for the business. This rating has been stable over the past 12 months.
Is SRNE a meme stock?
Meme Stocks to Avoid: Sorrento Therapeutics (SRNE) For example, shares rose about 6% after U.K. regulators cleared a Phase 2 study for Covid-19 nasal drops in newly diagnosed Covid-19 patients.
Will OCGN go back up?
Long-term Ocugen stock forecast 2022-2025 Algorithm-based forecasting service Wallet Investor gave a positive OCGN stock price forecast. The site predicted that the share price could climb over the next year, to $7.2 by March 2023.
Who is Dr Henry Ji?
Henry Ji, Ph. D., co-founded and has served as a director of Sorrento since January 2006, and as its chief executive officer and president since September 2012. Dr.
What is Sorrento Therapeutics working on?
About Sorrento Therapeutics, Inc. Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including Abivertinib, COVI-AMG™, COVISHIELD™, COVI-MSC™ and COVIDROPS™; and diagnostic test solutions, including COVITRACK™ and COVISTIX™.
How many employees does Sorrento Therapeutics have?
Company Description: Sorrento Therapeutics, Inc. is located in San Diego, CA, United States and is part of the Pharmaceutical and Medicine Manufacturing Industry. Sorrento Therapeutics, Inc. has 799 total employees across all of its locations and generates $52.90 million in sales (USD).
What time does FDA usually announce approvals?
Notes: Before the market open for announcements released before 9:30 ET of the FDA announcement dates; during market hours for those announced from 9:30 to 16:00 ET; after the market close for FDA notifications occurred after 16:00 ET of the announcement dates or a couple of days after the FDA announcement dates.
Should I buy or sell Sorrento Therapeutics stock right now?
1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Sorrento Therapeutics in the last year. There are currently 1 buy...
What is Sorrento Therapeutics' stock price forecast for 2022?
1 Wall Street analysts have issued 1 year price targets for Sorrento Therapeutics' shares. Their SRNE stock forecasts range from $20.00 to $20.00....
How has Sorrento Therapeutics' stock price performed in 2022?
Sorrento Therapeutics' stock was trading at $4.65 at the beginning of the year. Since then, SRNE shares have decreased by 67.5% and is now trading...
When is Sorrento Therapeutics' next earnings date?
Sorrento Therapeutics is scheduled to release its next quarterly earnings announcement on Wednesday, June 15th 2022. View our earnings forecast fo...
Who are Sorrento Therapeutics' key executives?
Sorrento Therapeutics' management team includes the following people: Dr. Henry H. Ji Ph.D. , Chairman, Pres & CEO (Age 58, Pay $1.69M) Mr. Bria...
Who are some of Sorrento Therapeutics' key competitors?
Some companies that are related to Sorrento Therapeutics include Beam Therapeutics (BEAM) , Bavarian Nordic A/S (BVNRY) , Fate Therapeutics (FAT...
What other stocks do shareholders of Sorrento Therapeutics own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Sorrento Therapeutics investors own include Inovio Pharmac...
What is Sorrento Therapeutics' stock symbol?
Sorrento Therapeutics trades on the NASDAQ under the ticker symbol "SRNE."
Who are Sorrento Therapeutics' major shareholders?
Sorrento Therapeutics' stock is owned by many different institutional and retail investors. Top institutional investors include State Street Corp (...
What happened?
On Wednesday evening, Sorrento Therapeutics ( SRNE -2.46% ) announced that the Food and Drug Administration was reviewing the company's application for Emergency Use Authorization for its COVID-19 diagnostic test. As a result, Sorrento's shares jumped on Thursday morning and were up by 5.1% as of 12:24 p.m. EDT today.
So what
Testing has been crucial to the efforts to contain the spread of COVID-19, and several companies have managed to create test kits that are highly accurate and easy to use. Sorrento is looking to launch its own COVID-19 test.
Now what
Sorrento has attracted a lot of attention of late. In particular, the company famously claimed that it had a potential cure for COVID-19, an antibody called STI-1499. Shares skyrocketed by more than 100% on this news, but have cooled down significantly since.
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Signals & Forecast
There are mixed signals in the stock today. The Sorrento Therapeutics stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average.
Support, Risk & Stop-loss
Sorrento Therapeutics finds support from accumulated volume at $2.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
Is Sorrento Therapeutics stock A Buy?
Sorrento Therapeutics holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Insiders are very positive buying more shares than they are selling in Sorrento Therapeutics
In the last 100 trades there were 39.36 million shares bought and 2.23 million shares sold. The last trade was done 60 days ago by Janda Kim who sold 3 thousand shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside.
About Sorrento Therapeutics
Sorrento Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, acquisition, development, and commercialization of proprietary drug therapeutics for addressing unmet medical needs worldwide.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star. This signal is rare and, in most cases, gives substantial returns. From 10 000+ stocks usually only a few will trigger a Golden Star Signal per day!
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What happened
Shares of the immuno-oncology and pain specialist Sorrento Therapeutics (NASDAQ: SRNE) were down by 15.3% on sky-high volume as of 11:50 a.m. EDT today. Earlier in the day, the biotech's stock had slumped by as much as 20%.
So what
Sorrento is no stranger to extreme levels of share price volatility. The stock has popped and dropped several times this year -- often for no reason at all. These kinds of wild swings are fairly typical for small-cap biotechs, especially those in penny stock territory like Sorrento.
Now what
On the plus side, Sorrento does sport a fairly broad range of high-value assets in immuno-oncology and pain management. The small-cap biotech could be in a radically different place two to three years from now.
