Thursday, February 08, 2018 10:15 PM ET
Insider Sale Slows Buying Trend of Last Quarter at Sorrento Therapeutics
There was a notable sale of shares of Sorrento Therapeutics by an insider today, as revealed in a form 4 document filed with the SEC. One insider — Abg Management Ltd, 10% Owner — disposed of 662,912 shares in the company having a market value of approximately $4,542,234. There have been 3 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 sale of 1,065,009 company shares over this time period. Adding the most recent activity to this 90-day history indicates insider trades have been net purchases of 73,880 shares and have averaged 882,431 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 281-company peer group average. Bio Therapeutic Drugs peer group saw 340 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 33,425,034 shares purchased and 43,483,727 shares sold with company insiders having sold 29,584 shares on average.
The data used 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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