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

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) saw strong 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. 60,915,641 shares traded 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.

SANA has been the topic of several other reports. JMP Securities cut Sana Biotechnology from an "outperform" rating to a "market perform" rating in a research report on Tuesday, November 5th. TD Cowen upgraded shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Sana Biotechnology presently has a consensus rating of "Moderate Buy" and an average target price of $14.25.

Institutional Investors Weigh In On Sana Biotechnology

Several hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Sana Biotechnology in the 3rd quarter worth approximately $29,000. Barclays PLC grew its holdings in shares of Sana Biotechnology by 126.6% during the 3rd quarter. Barclays PLC now owns 318,910 shares of the company's stock valued at $1,325,000 after purchasing an additional 178,179 shares during the last quarter. Geode Capital Management LLC raised its position in Sana Biotechnology by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company's stock worth $13,175,000 after purchasing an additional 276,055 shares during the period. EP Wealth Advisors LLC purchased a new stake in Sana Biotechnology during the third quarter valued at about $45,000. Finally, State Street Corp grew its stake in shares of Sana Biotechnology by 4.2% during the third quarter. State Street Corp now owns 6,627,320 shares of the company's stock valued at $27,570,000 after buying an additional 269,274 shares during the last quarter. Institutional investors own 88.23% of the company's stock.

Sana Biotechnology Stock Performance

The business has a 50 day moving average price of $2.38 and a two-hundred day moving average price of $4.07. The company has a market cap of $960.06 million, a P/E ratio of -3.07 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. As a group, research analysts expect 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.