Sana Biotechnology (NASDAQ:SANA) Receives Buy Rating from HC Wainwright

Sana Biotechnology (NASDAQ:SANA)‘s stock had its “buy” rating reiterated by research 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 price objective points to a potential upside of 297.11% from the company’s current price.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group initiated coverage on Sana Biotechnology in a report on Friday. They issued a “buy” rating and a $7.00 target price on the stock. Citizens Jmp upgraded Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a report on Tuesday. Finally, TD Cowen upgraded Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Sana Biotechnology currently has an average rating of “Moderate Buy” and an average price target of $10.80.

Sana Biotechnology Stock Performance

Shares of Sana Biotechnology stock opened at $2.77 on Tuesday. The business has a 50-day simple moving average of $3.05 and a 200-day simple moving average of $3.23. Sana Biotechnology has a one year low of $1.52 and a one year high of $10.50. The company has a market cap of $618.46 million, a PE ratio of -1.98 and a beta of 1.63.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.01). On average, sell-side analysts predict that Sana Biotechnology will post -1.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total value of $1,888,018.88. Following the transaction, the insider now directly owns 4,541,511 shares of the company’s stock, valued at $29,474,406.39. The trade was a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

Several hedge funds have recently modified their holdings of SANA. FMR LLC lifted its stake in shares of Sana Biotechnology by 16.3% in the 3rd 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 period. State Street Corp raised its holdings in Sana Biotechnology by 4.2% during the third quarter. State Street Corp now owns 6,627,320 shares of the company’s stock worth $27,570,000 after purchasing an additional 269,274 shares in the last quarter. Geode Capital Management LLC lifted its position in Sana Biotechnology by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 3,193,081 shares of the company’s stock valued at $5,206,000 after purchasing an additional 26,601 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Sana Biotechnology by 7.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,108,617 shares of the company’s stock valued at $5,068,000 after purchasing an additional 219,498 shares in the last quarter. Finally, Integral Health Asset Management LLC increased its position in Sana Biotechnology by 11.1% during the 4th quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company’s stock worth $3,260,000 after purchasing an additional 200,000 shares during the period. 88.23% of the stock is owned by institutional investors and hedge funds.

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.