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

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 were traded 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.

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

Institutional Investors Weigh In On Sana Biotechnology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in Sana Biotechnology by 26.5% in the second quarter. Bank of New York Mellon Corp now owns 431,744 shares of the company’s stock worth $2,357,000 after buying an additional 90,423 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sana Biotechnology by 20.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,858 shares of the company’s stock valued at $163,000 after buying an additional 5,090 shares in the last quarter. Rhumbline Advisers boosted its holdings in Sana Biotechnology by 16.0% in the 2nd quarter. Rhumbline Advisers now owns 181,903 shares of the company’s stock worth $993,000 after buying an additional 25,056 shares during the period. Arizona State Retirement System lifted its position in shares of Sana Biotechnology by 36.7% in the second quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock valued at $202,000 after acquiring an additional 9,940 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Sana Biotechnology in the second quarter worth about $100,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Price Performance

The firm has a 50-day moving average of $2.38 and a 200-day moving average of $4.07. The stock 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 quarterly earnings data on Friday, November 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. Equities analysts forecast that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Sana Biotechnology Company Profile

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.