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

Sana Biotechnology (NASDAQ:SANA)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 213.73% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Citigroup increased their target price on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Sana Biotechnology Price Performance

Shares of NASDAQ SANA opened at $2.55 on Wednesday. Sana Biotechnology has a 1 year low of $2.29 and a 1 year high of $12.00. The company has a market capitalization of $569.34 million, a price-to-earnings ratio of -1.82 and a beta of 1.44. The business has a 50-day moving average of $3.58 and a two-hundred day moving average of $5.19.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. As a group, equities research analysts expect that Sana Biotechnology will post -1.16 earnings per share for the current year.

Insiders Place Their Bets

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total transaction of $612,000.00. Following the completion of the sale, the director now directly owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SANA. Wilmington Savings Fund Society FSB purchased a new position in Sana Biotechnology in the 3rd quarter valued at $29,000. Stifel Financial Corp acquired a new stake in shares of Sana Biotechnology in the 3rd quarter worth $43,000. EP Wealth Advisors LLC purchased a new stake in shares of Sana Biotechnology in the third quarter valued at about $45,000. Blue Trust Inc. increased its stake in shares of Sana Biotechnology by 1,246.6% during the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after acquiring an additional 12,154 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new position in Sana Biotechnology during the third quarter worth about $67,000. Institutional investors and hedge funds 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.