In this article we will check out the progression of hedge fund sentiment towards Sorrentto Therapeutics Inc (NASDAQ:SRNE) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […]

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Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story…

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The central bank sees no rate hikes through 2022. Here's what that means for mortgages.

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Nuveen Head of Fixed Income Strategy Tony Rodriguez joins Yahoo Finance’s Heidi Chung to discuss the Fed’s decision to hold interest rates steady at near-zero.

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Sorrento Therapeutics’ (SRNE) competitors might be further down the line with their COVID-19 programs, but H.C. Wainwright analyst Ram Selvaraju highlights two separate routes the biotech could take to bring possible treatments and/or preventative therapies to market.Last week, Sorrento disclosed that in preclinical trials, the company’s monoclonal antibody (MaB), STI-4938, code named COVIDTRAP, inhibited SARS-CoV-2 viral infection in vitro.The data showed that STI-4938, an ACE2-Fc decoy protein, binds solidly to the SARS-CoV-2 virus spike protein, and is able to stop the virus from infecting the respiratory cells (specifically, in African green monkey kidney epithelial cells).Sorrento has another antibody in development, STI-1499 (COVI-SHIELD), which also recently demonstrated promising in vitro results as it was able to completely block the SARS-CoV-2 virus.While it is still early on for both antibodies, with the next stage involving preclinical animal studies, Selvaraju is encouraged by the additional positive results. “Together with Sorrento's previously announced preclinical neutralizing antibody candidate, STI-1499, COVIDTRAP may provide a potent antidote against COVID-19,” the 5-star analyst said.That being said, Selvaraju believes there might be another COVID-related catalyst on the horizon. Recent preliminary results for AstraZeneca’s blood cancer drug, Calquence, showed that it might be effective as a treatment for COVID-19. In a study of 19 patients with acute respiratory distress syndrome (ARDS) caused by COVID-19, the majority exhibited significant improvement in oxygen levels after taking the drug.The promising data for Calquence, a BTK (Bruton Tyrosine Kinase) inhibitor, might have implications for Sorrento’s own BTK inhibitor candidate, according to Selvaraju. “In our view, the promising early-stage clinical data for Calquence may provide an early read on the potential for the CALAVI program to yield positive results. There may be read-through from this to the applicability of Sorrento's own BTK inhibitor, abivertinib, to treat lung inflammation in COVID-19-infected patients. We remind investors that Sorrento recently announced its in-licensing of ex China rights to abivertinib, a dual BTK/EGFR inhibitor. The possibility that BTK inhibition may have a therapeutic role in addressing the consequences of COVID-19 infection only enhances the appeal of Sorrento's candidate,” the analyst explained.To this end, Selvaraju has a Buy rating on Sorrento to go with a $24 price target. Expect upside of a massive 431% should Selvaraju’s thesis play out in the coming months. (To watch Selvaraju’s track record, click here)Only one other analyst has published a Sorrento review over the last three months, matching both Selvaraju’s Buy rating and $24 price target. This makes the consensus rating a Moderate Buy. (See Sorrento stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

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The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

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The government is stepping up its efforts to fund vaccine studies and production for at least three of five frontrunner candidates — something that Dr. Anthony Fauci told Yahoo Finance will be worth its weight in gold in the long run.

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Miller Value Partners recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Miller Value Partners Opportunity Equity Fund posted a return of -38.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned -19.6% in the same quarter. You should check out Miller […]

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(Bloomberg) — Elon Musk wasn’t about to let a revenue-less manufacturer of zero-emission semi trucks steal the spotlight from Tesla Inc.The chief executive officer sent an email to employees before the market opened Wednesday declaring that it is “time to go all out” and put Tesla’s Semi into volume production. Musk didn’t give a time frame for when he expects mass output to actually happen. Just six weeks ago, Tesla said it was postponing initial deliveries to 2021, roughly two years later than initially planned.If Musk was looking to regain the attention of any investors whose eyes had wandered toward Nikola Corp., the market got the memo. Tesla’s stock surged past $1,000 for the first time, while shares of newly listed Nikola sold off after days of hype about its plans to bring battery-electric and fuel-cell haulers to market in the coming years.“This is Elon making noise because of Nikola,” said Ben Kallo, an analyst at Robert W. Baird. He said other factors are fueling the stock’s gain, including strong sales in China and the anticipation of a “Battery Day” event as soon as this month.Tesla soared as much as 8.4% to $1,019.86, lifting its market capitalization to an intraday peak of $189 billion. It’s gaining ground on Toyota Motor Corp., the world’s most valuable auto company at $215.9 billion.Nikola shares fell as much as 17% on Wednesday after advancing 122% the prior two days. It’s planning to start delivering a battery-electric semi next year, followed by fuel-cell rigs in 2023.“Given some of the other news flow in the past month to two months on the Class 8 truck market, I think he’s probably trying to keep Tesla in the marketing cycle just for all the mega trends going on in trucking,” Jeff Osborne, a Cowen & Co. analyst, said of Musk. He rates Tesla the equivalent of a sell.Trevor Milton, Nikola’s 38-year-old founder, took Musk’s memo in stride.Reuters reported Musk’s email to Tesla employees earlier Wednesday. The CEO confirmed its authenticity to his more than 35 million Twitter followers.(Updates with analyst’s comment in the fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Miller Value Partners recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Miller Value Partners Opportunity Equity Fund posted a return of -38.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned -19.6% in the same quarter. You should check out Miller […]

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