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 changed 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.

Several other research analysts have also recently weighed in on SANA. TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday. JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.25.

Institutional Trading of Sana Biotechnology

Several large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sana Biotechnology by 17.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,196 shares of the company’s stock worth $146,000 after acquiring an additional 5,338 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sana Biotechnology by 2.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,899 shares of the company’s stock worth $1,056,000 after acquiring an additional 6,823 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sana Biotechnology during the 3rd quarter worth approximately $29,000. Arizona State Retirement System boosted its position in shares of Sana Biotechnology by 36.7% during the 2nd quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock worth $202,000 after acquiring an additional 9,940 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Sana Biotechnology during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

Sana Biotechnology Price Performance

The stock has a market cap of $960.06 million, a price-to-earnings ratio of -3.07 and a beta of 1.45. The business’s 50-day simple moving average is $2.40 and its two-hundred day simple moving average is $4.07.

Sana Biotechnology (NASDAQ:SANA) last issued its earnings results on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. Equities research analysts forecast that Sana Biotechnology, Inc. will post -1.16 earnings per share 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.