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

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) saw 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. 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.

SANA has been the subject of a number of other research reports. JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. TD Cowen upgraded Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sana Biotechnology has a consensus rating of “Moderate Buy” and an average target price of $14.25.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Sana Biotechnology by 16.3% during the 3rd quarter. FMR LLC now owns 31,609,175 shares of the company’s stock worth $131,494,000 after purchasing an additional 4,438,949 shares during the last quarter. Geode Capital Management LLC increased its position in Sana Biotechnology by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company’s stock worth $13,175,000 after buying an additional 276,055 shares during the period. Stifel Financial Corp acquired a new position in shares of Sana Biotechnology during the third quarter worth approximately $43,000. Integral Health Asset Management LLC boosted its position in shares of Sana Biotechnology by 22.4% in the second quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company’s stock valued at $6,552,000 after acquiring an additional 220,000 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Sana Biotechnology by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,047,846 shares of the company’s stock valued at $4,359,000 after acquiring an additional 105,382 shares during the period. 88.23% of the stock is currently owned by institutional investors.

Sana Biotechnology Price Performance

The firm’s 50 day moving average price is $2.39 and its 200-day moving average price is $4.07. The firm has a market cap of $960.06 million, a price-to-earnings 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, topping the consensus estimate of ($0.26) by $0.01. Analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current 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.