Needham & Company LLC Initiates Coverage on Sensei Biotherapeutics (NASDAQ:FTH)

Needham & Company LLC assumed coverage on shares of Sensei Biotherapeutics (NASDAQ:FTH) in a research report issued on Friday,Benzinga reports. The brokerage set a “buy” rating and a $56.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 74.45% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on FTH. Wall Street Zen raised Sensei Biotherapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Sensei Biotherapeutics in a research report on Tuesday, August 11th. Loop Capital set a $50.00 price target on shares of Sensei Biotherapeutics in a report on Thursday, May 28th. Citigroup started coverage on shares of Sensei Biotherapeutics in a research report on Friday, May 22nd. They issued a “buy” rating and a $55.00 price target on the stock. Finally, Oppenheimer initiated coverage on shares of Sensei Biotherapeutics in a report on Tuesday, July 28th. They set an “outperform” rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sensei Biotherapeutics has an average rating of “Moderate Buy” and an average target price of $55.00.

Sensei Biotherapeutics Trading Down 3.1%

Shares of NASDAQ:FTH opened at $32.10 on Friday. The company has a 50-day simple moving average of $27.17. The firm has a market capitalization of $829.46 million, a P/E ratio of -0.23 and a beta of -0.25. Sensei Biotherapeutics has a 52-week low of $7.45 and a 52-week high of $37.90.

Sensei Biotherapeutics (NASDAQ:FTH) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($2.84) earnings per share for the quarter, topping the consensus estimate of ($5.04) by $2.20. Research analysts predict that Sensei Biotherapeutics will post -13.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Sensei Biotherapeutics news, major shareholder James Peyer sold 25,000 shares of Sensei Biotherapeutics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $20.02, for a total transaction of $500,500.00. Following the sale, the insider owned 130,142 shares in the company, valued at $2,605,442.84. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anand Kiran Parikh purchased 2,806 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $19.76 per share, for a total transaction of $55,446.56. Following the acquisition, the chief executive officer directly owned 764,234 shares in the company, valued at approximately $15,101,263.84. This trade represents a 0.37% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 49,494 shares of company stock valued at $1,188,822 over the last ninety days. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sensei Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of FTH. Renaissance Technologies LLC grew its position in Sensei Biotherapeutics by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 11,516 shares of the company’s stock valued at $123,000 after acquiring an additional 1,100 shares during the period. Bank of America Corp DE lifted its holdings in shares of Sensei Biotherapeutics by 10,692.5% during the first quarter. Bank of America Corp DE now owns 33,025 shares of the company’s stock valued at $1,041,000 after acquiring an additional 32,719 shares during the period. Stempoint Capital LP acquired a new stake in shares of Sensei Biotherapeutics in the 1st quarter valued at $4,188,000. Alyeska Investment Group L.P. acquired a new stake in shares of Sensei Biotherapeutics in the 2nd quarter valued at $3,610,000. Finally, Vivo Capital LLC bought a new stake in shares of Sensei Biotherapeutics in the 1st quarter worth about $22,758,000. Institutional investors own 10.50% of the company’s stock.

About Sensei Biotherapeutics

Sensei Biotherapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of immunotherapies that harness both the innate and adaptive arms of the immune system to treat cancer and autoimmune diseases. Utilizing proprietary antibody engineering and biologics platforms, Sensei aims to develop next-generation checkpoint modulators and immune agonists designed to overcome the limitations of current therapies.

The company’s lead programs include SIS-100, a first-in-class antagonist targeting Siglec-15 being evaluated in solid tumors to relieve immune suppression in the tumor microenvironment, and SIS-101, an antibody directed against CD39 intended to restore T-cell function by modulating adenosine signaling pathways.