Sorrento Therapeutics Inc

• 2020-09-15
• Traiding Idea

Sorrento Therapeutics is a publicly owned, anti-body centric, clinical-stage biopharmaceutical company based in San Diego, California.

During the coronavirus pandemic, the company developed a cellular vaccine for the virus that is still in preclinical trials.

The company's market cap is about $ 1.9 billion, and it performs very well fundamentally.

Sorrento's stock price is currently around $ 7.4, and investment companies are even considering $ 21 for the company's stock price target, and it is likely to reach this target in the next few months.

Technically, it seems that after the correction, the price has tested a strong support level, and we can expect the price to rise.

Summary of analysis and signal : 

Entry point: 7.4

stop-loss: 4

Take profit 1: 10

Take profit 2: 14