16,054 Shares in Sorrento Therapeutics Inc (SRNE) Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV acquired a new position in Sorrento Therapeutics Inc (NASDAQ:SRNE) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,054 shares of the biopharmaceutical company’s stock, valued at approximately $76,000.

A number of other hedge funds have also bought and sold shares of the business. InterOcean Capital LLC purchased a new position in shares of Sorrento Therapeutics during the 4th quarter valued at $25,000. Paloma Partners Management Co purchased a new position in shares of Sorrento Therapeutics during the 4th quarter valued at $34,000. Amalgamated Bank purchased a new position in shares of Sorrento Therapeutics during the 4th quarter valued at $35,000. Metropolitan Life Insurance Co. NY lifted its position in shares of Sorrento Therapeutics by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 30,211 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 23,595 shares during the last quarter. Finally, Virtu Financial LLC lifted its position in shares of Sorrento Therapeutics by 30.4% during the 4th quarter. Virtu Financial LLC now owns 69,509 shares of the biopharmaceutical company’s stock valued at $167,000 after buying an additional 16,202 shares during the last quarter. 25.86% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on SRNE shares. BidaskClub raised Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday. B. Riley upped their price target on Sorrento Therapeutics from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. HC Wainwright set a $40.00 price target on Sorrento Therapeutics and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Zacks Investment Research cut Sorrento Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Sorrento Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $20.67.

Shares of NASDAQ SRNE opened at $3.80 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.91 and a quick ratio of 2.91. Sorrento Therapeutics Inc has a one year low of $1.80 and a one year high of $8.25.

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Sorrento Therapeutics Company Profile

Sorrento Therapeutics, Inc, a clinical stage biotechnology company, primarily engages in the discovery and development of therapies focused on oncology and the treatment of chronic cancer pain worldwide. It offers resiniferatoxin, a non-opioid-based TRPV1 agonist neurotoxin for the treatment of intractable pain treatment; and ZTlido, a lidocaine delivery system for the treatment of postherpetic neuralgia.

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

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