Sana Biotechnology (NASDAQ:SANA) Sees Large Volume Increase After Analyst Upgrade

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) saw unusually-high 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 were traded during 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.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in Sana Biotechnology during the third quarter worth approximately $29,000. Stifel Financial Corp bought a new position in shares of Sana Biotechnology during the 3rd quarter worth approximately $43,000. EP Wealth Advisors LLC bought a new position in shares of Sana Biotechnology during the 3rd quarter worth approximately $45,000. Blue Trust Inc. grew its position in shares of Sana Biotechnology by 1,246.6% during the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after buying an additional 12,154 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Sana Biotechnology in the 3rd quarter valued at $67,000. 88.23% of the stock is owned by institutional investors.

Sana Biotechnology Stock Up 160.6 %

The firm’s 50 day simple moving average is $2.40 and its two-hundred day simple moving average is $4.07. The stock has a market capitalization of $960.06 million, a P/E ratio of -3.07 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. As a group, equities research analysts expect that Sana Biotechnology, Inc. will post -1.16 earnings per share 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.