StockNews.com Initiates Coverage on Sorrento Therapeutics (NASDAQ:SRNE)

Analysts at StockNews.com started coverage on shares of Sorrento Therapeutics (NASDAQ:SRNE) in a note issued to investors on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Sorrento Therapeutics Stock Performance

NASDAQ SRNE opened at $0.01 on Friday. The stock’s 50 day simple moving average is $0.01 and its 200-day simple moving average is $0.01. Sorrento Therapeutics has a 1-year low of $0.00 and a 1-year high of $0.25.

About Sorrento Therapeutics

Sorrento Therapeutics, Inc, a clinical and commercial stage biopharmaceutical company, develops a portfolio of next-generation treatments for three therapeutic areas: cancer, infectious disease,and pain. It operates through two segments, Sorrento Therapeutics and Scilex. The company provides cancer therapeutic 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 conjugate, as well as bispecific antibody approach; and Sofusa, a drug delivery technology that deliver biologic directly into the lymphatic system.