Sorrento Therapeutics (NASDAQ:SRNE) stock identified change of 242.45% away from 52-week low price and recently located move of -26.77% off 52-week high price. It has market worth of $685.34MM. SRNE stock has been recorded 71.30% away from 50 day moving average and 69.04% away from 200 day moving average. Moving closer, we can see that shares have been trading 32.35% off 20-day moving average.
On Jan. 10, 2020, Sorrento Therapeutics (NASDAQ:SRNE) revealed that on January 9, 2020, it received a non-binding proposal from a private equity fund to acquire a majority or all of the issued and outstanding shares of the Company for up to $7.00 per share.
Consistent with its fiduciary responsibilities, the Company’s Board of Directors is carefully reviewing the proposal with the assistance of its advisors to determine the course of action it believes is in the best interests of the Company and its stockholders.
There is no assurance that any transaction will occur. Sorrento stockholders are not required to take any action at this time.
About Sorrento Therapeutics
Sorrento is a clinical stage, antibody-centric, biopharmaceutical company developing new therapies to turn malignant cancers into manageable and possibly curable diseases. Sorrento’s multimodal multipronged approach to fighting cancer is made possible by its’ extensive immuno-oncology platforms, including key assets such as fully human antibodies (G-MAB™ library), antibody-drug conjugates (ADC) as well CAR-T and oncolytic virus (Seprehvir®).
Sorrento’s commitment to life-enhancing therapies for cancer patients is also demonstrated by our effort to advance a first-in-class (TRPV1 agonist) RTX and ZTlido®. RTX is completing a phase IB trial in terminal cancer patients. ZTlido® was approved by US FDA on February 28, 2018.
The Healthcare sector company, Sorrento Therapeutics noticed change of 39.59% to $4.76 along volume of 48242614 shares in recent session compared to an average volume of 5.15M. The stock observed return of 42.51% in 5 days trading activity. The stock was at 26.09% over one month performance. SRNE’s shares are at 226.03% for the quarter and driving a 93.50% return over the course of the past year and is now at 40.83% since this point in 2018.
The average volatility for the week at 7.39% and for month was at 7.60%. There are 143.98M shares outstanding and 110.94M shares are floated in market. Right now the stock beta is 3.06.