Rhumbline Advisers Buys 8,903 Shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE)

Rhumbline Advisers lifted its holdings in Sorrento Therapeutics, Inc. (NASDAQ:SRNE) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 291,417 shares of the biopharmaceutical company’s stock after buying an additional 8,903 shares during the period. Rhumbline Advisers owned about 0.10% of Sorrento Therapeutics worth $2,824,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. US Bancorp DE grew its holdings in Sorrento Therapeutics by 10.0% during the 2nd quarter. US Bancorp DE now owns 25,840 shares of the biopharmaceutical company’s stock valued at $251,000 after purchasing an additional 2,350 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Sorrento Therapeutics by 17.6% during the second quarter. Teacher Retirement System of Texas now owns 29,311 shares of the biopharmaceutical company’s stock valued at $284,000 after acquiring an additional 4,378 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Sorrento Therapeutics by 37.8% during the second quarter. Handelsbanken Fonder AB now owns 61,300 shares of the biopharmaceutical company’s stock valued at $594,000 after acquiring an additional 16,800 shares during the last quarter. Victory Capital Management Inc. increased its stake in Sorrento Therapeutics by 5.0% during the 2nd quarter. Victory Capital Management Inc. now owns 50,470 shares of the biopharmaceutical company’s stock valued at $489,000 after purchasing an additional 2,398 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Sorrento Therapeutics by 11.3% in the second quarter. Arizona State Retirement System now owns 72,390 shares of the biopharmaceutical company’s stock worth $701,000 after acquiring an additional 7,330 shares during the period. Hedge funds and other institutional investors own 26.01% of the company’s stock.

Shares of NASDAQ:SRNE opened at $7.97 on Tuesday. The company has a market capitalization of $2.38 billion, a PE ratio of -6.87 and a beta of 2.35. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Sorrento Therapeutics, Inc. has a twelve month low of $5.17 and a twelve month high of $17.25. The firm has a 50 day simple moving average of $8.49 and a 200-day simple moving average of $8.39.

In other news, Director Kim Janda sold 8,000 shares of the company’s stock in a transaction on Monday, September 13th. The shares were sold at an average price of $8.04, for a total transaction of $64,320.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.40% of the company’s stock.

Separately, HC Wainwright decreased their price objective on shares of Sorrento Therapeutics from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, August 9th.

Sorrento Therapeutics Profile

Sorrento Therapeutics, Inc engages in the research, development and manufacture of biopharmaceutical products. It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars, immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates.

Read More: Terms to Better Understand Call Options

Institutional Ownership by Quarter for Sorrento Therapeutics (NASDAQ:SRNE)

Receive News & Ratings for Sorrento Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sorrento Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.