HC Wainwright Reaffirms Buy Rating for Sana Biotechnology (NASDAQ:SANA)

Sana Biotechnology (NASDAQ:SANA)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $11.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 297.11% from the company’s previous close.

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

Sana Biotechnology Trading Down 5.5 %

SANA stock opened at $2.77 on Tuesday. The firm has a 50-day moving average of $3.05 and a two-hundred day moving average of $3.23. Sana Biotechnology has a 12 month low of $1.52 and a 12 month high of $10.50. The company has a market cap of $618.46 million, a price-to-earnings 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). As a group, equities analysts forecast that Sana Biotechnology will post -1.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Fmr Llc sold 290,912 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the completion of the transaction, the insider now directly owns 4,541,511 shares in the company, valued at $29,474,406.39. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 31.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC acquired a new position in Sana Biotechnology in the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC boosted its stake in shares of Sana Biotechnology by 229.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company’s stock valued at $25,000 after purchasing an additional 10,548 shares during the period. Syon Capital LLC acquired a new position in shares of Sana Biotechnology in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Sana Biotechnology during the 3rd quarter worth approximately $29,000. Finally, Ameriprise Financial Inc. acquired a new stake in Sana Biotechnology during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

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.