SRNE - Why Sorrento Therapeutics Stock Gained 29% Last Month
Shares of biopharma stock Sorrento Therapeutics (NASDAQ: SRNE) rallied 28.9% in June, according to numbers provided by S&P Global Market Intelligence . Although the stock was already primed for bullishness following a steep pullback earlier in the year, a pair of drug trial updates juiced the brewing bounce.
Sorrento Therapeutics is so much more than its COVID-19 developments, but like so many other pharmaceutical companies ' stocks, its shares have been caught up in the coronavirus vaccine mania. They soared in 2020, then plunged, then jumped again in February, only to fall 60% again to May's low.
Then things took a turn for the better again.
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Why Sorrento Therapeutics Stock Gained 29% Last Month