Thursday, January 25, 2018 10:15 PM ET
Sorrento Therapeutics (SRNE) Insider Makes Significant Share Sale Slowing Buy Trend over Last 90 Days
There was a substantial insider sale of Sorrento Therapeutics shares today, as indicated in a filing with the SEC as — Asia Pacific MedTech (BVI) Ltd, 10% Owner — sold 684,288 shares in the company having a market value of approximately $5,175,690 There was one insider buy/sell transaction in the past 90 days prior to this transaction which resulted in the purchase of 1,801,801 shares. Adding the most recent activity to this 90-day history indicates insider trades have been net purchases of 1,117,513 shares and have averaged 1,243,045 shares per transaction over this time period.
Over the last 90 days, the number of insider buy/sell trades at Sorrento Therapeutics is higher than the 280-company peer group average. Bio Therapeutic Drugs peer group saw 337 buy/sell trades during this period for an average of 1.2 transactions per company. The number of shares per buy/sell trade for Sorrento Therapeutics insiders was also higher. Within the peer group there were 48,869,513 shares purchased and 42,396,279 shares sold with company insiders having bought 29,558 shares on average.
The data obtained in evaluating and writing in this story eliminates all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers.
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