Jacobi Capital Management LLC purchased a new position in shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) during the first quarter, Holdings Channel reports. The institutional investor purchased 3,700 shares of the biopharmaceutical company’s stock, valued at approximately $31,000.
A number of other institutional investors have also modified their holdings of SRNE. BlackRock Inc. lifted its holdings in Sorrento Therapeutics by 17.3% during the fourth quarter. BlackRock Inc. now owns 17,619,678 shares of the biopharmaceutical company’s stock worth $120,253,000 after acquiring an additional 2,603,120 shares during the period. STA Wealth Management LLC lifted its holdings in Sorrento Therapeutics by 250.0% during the fourth quarter. STA Wealth Management LLC now owns 577,500 shares of the biopharmaceutical company’s stock worth $3,941,000 after acquiring an additional 412,500 shares during the period. Wells Fargo & Company MN lifted its holdings in Sorrento Therapeutics by 42.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,020,563 shares of the biopharmaceutical company’s stock worth $6,965,000 after acquiring an additional 303,959 shares during the period. Virtu Financial LLC bought a new stake in Sorrento Therapeutics during the fourth quarter worth $1,787,000. Finally, Northern Trust Corp lifted its holdings in Sorrento Therapeutics by 9.1% during the fourth quarter. Northern Trust Corp now owns 2,895,917 shares of the biopharmaceutical company’s stock worth $19,765,000 after acquiring an additional 240,852 shares during the period. Institutional investors and hedge funds own 27.02% of the company’s stock.
Shares of Sorrento Therapeutics stock opened at $8.73 on Friday. The stock’s fifty day simple moving average is $7.60. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -9.19 and a beta of 2.36. Sorrento Therapeutics, Inc. has a 12 month low of $4.31 and a 12 month high of $19.39. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.35.
Sorrento Therapeutics Company Profile
Sorrento Therapeutics, Inc, a clinical stage and commercial biopharmaceutical company, develops therapies for cancer, autoimmune, inflammatory, viral, and neurodegenerative diseases. It operates through two segments, Sorrento Therapeutics and Scilex. The company provides cancer therapeutics by leveraging its proprietary G-MAB antibody library and targeted delivery modalities, which include chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy, and antibody drug conjugates, as well as bispecific antibody approaches; and Sofusa, a drug delivery technology that delivers biologics directly into the lymphatic system.
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