Sorrento Therapeutics (SRNE) : The short interest in Sorrento Therapeutics (SRNE) has increased from 3,789,842 to 3,949,325 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 170,642 shares are traded daily in the stock and only 23 days are left for the shorts to cover. The short open interest is 8.4% of the total shares in the hands of the public. The shorts in the stock have gone up by 159,483 shares, which is an increase of 4.2% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
Sorrento Therapeutics (NASDAQ:SRNE): The stock opened at $6.99 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.20 for the day. The stock traded down to $6.40 during the day, due to lack of any buying support eventually closed down at $6.43 with a loss of -7.61% for the day. The stock had closed at $6.96 on the previous day. The total traded volume was 316,458 shares.
In a related news, Ji Henry, CEO of Sorrento Therapeutics, Inc. had purchased 500 shares on August 26, 2015 in a transaction. The price per share was $0.73 and the total amount of the disclosed transaction was $365.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Sorrento Therapeutics, Inc. is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics for addressing unmet medical needs in the United States, Europe, as well as international markets. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain, but it is also developing therapeutic products for other indications, including immunology and infectious diseases. Its products in the pipeline include Cynviloq and resiniferatoxin (RTX), a non-opiate, ultra-potent and selective agonist of the transient receptor potential cation channel subfamily V member 1 (TRPV-1) receptor. Its pipeline also includes preclinical human therapeutic monoclonal antibodies (mAbs), antibody drug conjugates (ADCs), bispecific antibodies (BsAbs), as well as Chimeric Antigen Receptor Tumor-attacking Neukoplast (CAR.TNK) for adoptive cellular immunotherapies (ACI).