Sana Biotechnology (NASDAQ:SANA) Sees Unusually-High Trading Volume After Analyst Upgrade

Sana Biotechnology, Inc. (NASDAQ:SANA) shares 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 traded hands 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 research analysts also recently weighed in on the stock. TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday. JMP Securities lowered shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sana Biotechnology has an average rating of “Moderate Buy” and an average target price of $14.25.

Hedge Funds Weigh In On Sana Biotechnology

A number of large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sana Biotechnology by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,196 shares of the company’s stock worth $146,000 after purchasing an additional 5,338 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sana Biotechnology by 2.8% in 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 buying 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 valued at $29,000. Arizona State Retirement System grew its holdings 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 valued at $202,000 after acquiring an additional 9,940 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Sana Biotechnology in the third quarter worth $43,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

Sana Biotechnology Price Performance

The firm has a market capitalization of $960.06 million, a PE ratio of -3.07 and a beta of 1.45. The company has a fifty day moving average of $2.39 and a 200-day moving average of $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, topping the consensus estimate of ($0.26) by $0.01. Equities analysts anticipate that Sana Biotechnology, Inc. will post -1.16 EPS 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.