Sorrento Therapeutics (SRNE) Breakout Alert: More to Come in February?

The Sorrento Therapeutics Inc (NASDAQ: SRNE) stock has been in the middle of a remarkable rally over the past two weeks and during that period, it has delivered gains of as high as 85%.

The stock has been one of the many ‘coronaviruses plays’ due to the company’s work with regards to tackling the COVID 19 pandemic. On the other hand, the stock received another boost this past Friday after B. Riley Securities analyst Mayank Mamtani gave the Sorrento stock a buy rating and set the target price at $26 per share. One of the big reasons behind the bullish sentiments among many with regards to Sorrento is linked to the company’s experimental stem cell therapy COVI-MSC, which is meant for combating the COVID-19 virus.

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In this regard, it should also be noted that last Wednesday the company also announced positive results from the Phase 1B study of the product. That is another major factor why the stock could well be in focus among investors today.

Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life