HC Wainwright Reiterates Buy Rating for Sana Biotechnology (NASDAQ:SANA)

Sana Biotechnology (NASDAQ:SANA)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $11.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 370.09% from the company’s previous close.

Several other brokerages also recently weighed in on SANA. Jefferies Financial Group began coverage on shares of Sana Biotechnology in a research note on Friday, March 14th. They issued a “buy” rating and a $7.00 target price for the company. Citizens Jmp raised Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Tuesday. Finally, TD Cowen raised Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.80.

Sana Biotechnology Stock Up 2.6 %

NASDAQ:SANA opened at $2.34 on Tuesday. The stock has a fifty day simple moving average of $3.02 and a 200-day simple moving average of $3.20. Sana Biotechnology has a 52-week low of $1.52 and a 52-week high of $10.50. The company has a market capitalization of $522.45 million, a PE ratio of -1.67 and a beta of 1.63.

Sana Biotechnology (NASDAQ:SANA) last announced its earnings results on Monday, March 17th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02. As a group, equities analysts anticipate that Sana Biotechnology will post -1.16 earnings per share for the current year.

Insider Activity

In other news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the sale, the insider now owns 4,541,511 shares of the company’s stock, valued at approximately $29,474,406.39. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of SANA. FMR LLC raised its position in shares of Sana Biotechnology by 16.3% during the third quarter. FMR LLC now owns 31,609,175 shares of the company’s stock worth $131,494,000 after acquiring an additional 4,438,949 shares during the last quarter. Boxer Capital Management LLC bought a new position in shares of Sana Biotechnology during the fourth quarter worth about $2,518,000. Corient Private Wealth LLC grew its holdings in shares of Sana Biotechnology by 161.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,182,699 shares of the company’s stock worth $1,928,000 after buying an additional 730,699 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Sana Biotechnology by 604.8% during the fourth quarter. Millennium Management LLC now owns 728,901 shares of the company’s stock worth $1,188,000 after buying an additional 625,481 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Sana Biotechnology by 44.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,557,496 shares of the company’s stock worth $2,538,000 after buying an additional 478,596 shares in the last quarter. Institutional investors own 88.23% of the company’s stock.

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.