Wednesday, January 31, 2018 10:15 PM ET
Insider Sale Slows Buying Trend of Last Quarter at Sorrento Therapeutics
An insider — Abg Management Ltd, 10% Owner — sold 310,000 shares of Sorrento Therapeutics having a market value of approximately $2,368,864 today, as indicated in a form 4 document filed with the SEC. There have been 2 insiders with buy/sell transactions in the past 90 days prior to this filing. These trades have resulted in the purchase of 1,801,801 company shares and the disposition of 684,288 company shares over this time period. Adding the most recent activity to this 90-day history indicates insider trades have been net purchases of 807,513 shares and have averaged 932,030 shares per transaction over this time period.
Insiders at Sorrento Therapeutics have a level of buy/sell trades that is above the 280-peer company average over the last 90-day period. The Bio Therapeutic Drugs peer group saw 326 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 33,250,273 shares purchased and 42,918,553 shares sold with company insiders having sold 29,657 shares on average.
Insider buying and selling activity that is significant has been determined by eliminating 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 in creating and writing this story.
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