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Abhoy Sarkar's Avatar
published in Blogs
May 15, 2020

Sorrento (SRNE, $2.62) might have a breakthrough treatment for coronavirus

Sorrento Therapeutics   shares jumped as much as doubled, following the company's announcement that  it was close to achieving a drug to treat the coronavirus.

The biopharma company said that as part of its lab research, it has identified  a new treatment/antibody that provides "100%  inhibition of SARS-CoV-2 virus infection of healthy cells after four days incubation.” According to Sorrento, this breakthrough has come after it screened out billions of candidates. 

"STI-1499 completely neutralized the virus infectivity at a very low antibody dose, making it a prime candidate for further testing and development. Initial biochemical and biophysical analyses also indicate STI-1499 is a potentially strong antibody drug candidate.", the company mentioned in its statement.

Sorrento's findings are subject to  peer review by other scientists, and the research has not been tested on human beings, according to reports.

Sorrento also claims that this newly discovered antibody, labelled the STI-1499, could be developed and made available before a vaccine enters the market.

Meanwhile, the company continues to work on production of a separate, antibody “cocktail” that could provide protection against SARS-CoV-2 even in case of mutations in the virus.

 

 

Related Ticker: SRNEQ

SRNEQ's RSI Indicator ascending out of oversold territory

The RSI Oscillator for SRNEQ moved out of oversold territory on January 30, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 47 similar instances when the indicator left oversold territory. In of the 47 cases the stock moved higher. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 11 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

The Momentum Indicator moved above the 0 level on February 16, 2024. You may want to consider a long position or call options on SRNEQ as a result. In of 82 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for SRNEQ just turned positive on February 15, 2024. Looking at past instances where SRNEQ's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

SRNEQ moved below its 50-day moving average on January 19, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for SRNEQ crossed bearishly below the 50-day moving average on January 25, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SRNEQ declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for SRNEQ entered a downward trend on February 08, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.259) is normal, around the industry mean (27.451). P/E Ratio (0.000) is within average values for comparable stocks, (133.926). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (6.369). Dividend Yield (0.000) settles around the average of (0.031) among similar stocks. P/S Ratio (2.055) is also within normal values, averaging (384.601).

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. SRNEQ’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SRNEQ’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 94, placing this stock worse than average.

Notable companies

The most notable companies in this group are Regeneron Pharmaceuticals (NASDAQ:REGN), Moderna (NASDAQ:MRNA), Incyte Corp (NASDAQ:INCY), Sarepta Therapeutics (NASDAQ:SRPT), Exelixis (NASDAQ:EXEL), Arrowhead Pharmaceuticals (NASDAQ:ARWR), BioCryst Pharmaceuticals (NASDAQ:BCRX), Novavax (NASDAQ:NVAX), Adaptive Biotechnologies Corp (NASDAQ:ADPT), Sorrento Therapeutics (OTC:SRNEQ).

Industry description

Biotechnology involves genetic or protein engineering to produce medicines/therapies for treating and preventing ailments. The industry also provides crucial ingredients for diagnostics. This multi-billion-dollar industry is heavily focused on research and development, as companies attempt to continually come up with cutting-edge solutions for health. New discoveries for the treatment of diseases provide opportunities for growth for a company in this industry. Discoveries, however, must pass the regulatory approval from the U.S. Food and Drug Administration (FDA) before they can make it to markets. Amgen Inc., Gilead Sciences, Inc. and Celgene Corporation are examples of companies in this industry.

Market Cap

The average market capitalization across the Biotechnology Industry is 2.56B. The market cap for tickers in the group ranges from 402 to 552.93B. NVO holds the highest valuation in this group at 552.93B. The lowest valued company is PNEXF at 402.

High and low price notable news

The average weekly price growth across all stocks in the Biotechnology Industry was 2%. For the same Industry, the average monthly price growth was 18%, and the average quarterly price growth was 39%. DOSED experienced the highest price growth at 944%, while RAPT experienced the biggest fall at -66%.

Volume

The average weekly volume growth across all stocks in the Biotechnology Industry was -26%. For the same stocks of the Industry, the average monthly volume growth was -23% and the average quarterly volume growth was 23%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 50
P/E Growth Rating: 86
Price Growth Rating: 50
SMR Rating: 94
Profit Risk Rating: 93
Seasonality Score: -35 (-100 ... +100)
Related Portfolios: BIOTECHNOLOGY SECTOR
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a developer of proprietary drug therapeutics

Industry Biotechnology

Profile
Fundamentals
Details
Industry
Biotechnology
Address
4955 Directors Place
Phone
+1 858 203-4100
Employees
957
Web
https://www.sorrentotherapeutics.com
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SRNEQ and

Correlation & Price change

A.I.dvisor indicates that over the last year, SRNEQ has been closely correlated with SGMO. These tickers have moved in lockstep 73% of the time. This A.I.-generated data suggests there is a high statistical probability that if SRNEQ jumps, then SGMO could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To SRNEQ
1D Price
Change %
SRNEQ100%
N/A
SGMO - SRNEQ
73%
Closely correlated
+2.73%
GTHX - SRNEQ
64%
Loosely correlated
+3.74%
AGEN - SRNEQ
63%
Loosely correlated
+1.23%
CHRS - SRNEQ
60%
Loosely correlated
+4.45%
TECH - SRNEQ
57%
Loosely correlated
-0.15%
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