Sana Biotechnology (NASDAQ:SANA) Sees Strong Trading Volume After Analyst Upgrade

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) saw unusually-strong trading volume on Wednesday after HC Wainwright raised their price target on the stock from $8.00 to $11.00. HC Wainwright currently has a buy rating on the stock. Approximately 60,915,641 shares traded hands during mid-day trading, an increase of 249% from the previous session’s volume of 17,436,422 shares.The stock last traded at $5.63 and had previously closed at $1.65.

Other equities analysts have also issued reports about the company. TD Cowen raised Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday. JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.25.

Institutional Investors Weigh In On Sana Biotechnology

Several large investors have recently added to or reduced their stakes in SANA. Wilmington Savings Fund Society FSB bought a new position in shares of Sana Biotechnology in the third quarter worth $29,000. Stifel Financial Corp purchased a new position in Sana Biotechnology during the 3rd quarter valued at about $43,000. EP Wealth Advisors LLC bought a new stake in shares of Sana Biotechnology during the third quarter valued at about $45,000. Blue Trust Inc. lifted its holdings in shares of Sana Biotechnology by 1,246.6% in the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after buying an additional 12,154 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Sana Biotechnology in the third quarter valued at approximately $67,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Price Performance

The firm’s 50 day moving average is $2.38 and its 200 day moving average is $4.07. The company has a market cap of $1.20 billion, a PE ratio of -3.85 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA) last issued its earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. As a group, analysts anticipate that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

About Sana Biotechnology

Sana Biotechnology, Inc, a biotechnology company, focuses on utilizing engineered cells as medicines. It develops ex vivo and in vivo cell engineering platforms for various therapeutic areas with unmet treatment needs, including oncology, diabetes, central nervous system disorders, B-cell-mediated autoimmune, and others.