Sensei Biotherapeutics (NASDAQ:FTH) Shares Gap Down - Here's Why

Key Points

• Sensei Biotherapeutics shares opened sharply lower, falling from a prior close of $21.51 to $19.90 before recovering to about $21.05, on volume of 6,898 shares.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a $56.25 average price target; several firms initiated coverage with “Outperform” ratings and targets between $56 and $60.
• The clinical-stage biotech reported a quarterly loss of $2.84 per share, beating estimates for a $5.04 loss, but analysts expect a full-year loss of approximately $13.69 per share.

Sensei Biotherapeutics, Inc. (NASDAQ:FTH - Get Free Report)'s stock price gapped down before the market opened on Thursday. The stock had previously closed at $21.51, but opened at $19.90. Sensei Biotherapeutics shares last traded at $21.0450, with a volume of 6,898 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FTH shares. Oppenheimer initiated coverage on Sensei Biotherapeutics in a research report on Tuesday, July 28th. They set an "outperform" rating and a $60.00 price objective for the company. Raymond James Financial initiated coverage on shares of Sensei Biotherapeutics in a research report on Friday, July 31st. They set an "outperform" rating and a $56.00 target price for the company. Robert W. Baird began coverage on Sensei Biotherapeutics in a report on Friday, June 26th. They issued an "outperform" rating and a $57.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Sensei Biotherapeutics in a report on Monday, September 14th. Finally, TD Cowen started coverage on Sensei Biotherapeutics in a research report on Wednesday, September 9th. They issued a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sensei Biotherapeutics currently has an average rating of "Moderate Buy" and an average price target of $56.25.

Sensei Biotherapeutics Price Performance

The company has a market capitalization of $546.39 million, a PE ratio of -0.15 and a beta of -0.29. The stock's fifty day moving average price is $31.58.

Sensei Biotherapeutics (NASDAQ:FTH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($2.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.04) by $2.20. On average, equities research analysts predict that Sensei Biotherapeutics, Inc. will post -13.69 EPS for the current year.

Institutional Trading of Sensei Biotherapeutics

Several hedge funds have recently made changes to their positions in FTH. Bank of America Corp DE raised 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 purchasing an additional 32,719 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Sensei Biotherapeutics during the 2nd quarter valued at about $3,610,000. Renaissance Technologies LLC grew its stake in shares of Sensei Biotherapeutics by 178.2% in the 1st quarter. Renaissance Technologies LLC now owns 32,041 shares of the company's stock worth $1,010,000 after buying an additional 20,525 shares in the last quarter. Stempoint Capital LP purchased a new position in Sensei Biotherapeutics during the first quarter worth $4,188,000. Finally, Vivo Capital LLC purchased a new stake in Sensei Biotherapeutics in the first quarter worth $22,758,000. 10.50% of the stock is currently owned by institutional investors.

About Sensei Biotherapeutics

Sensei Biotherapeutics, Inc is a clinical-stage biotechnology company focused on developing cancer immunotherapies designed to activate the immune system against tumors. The company's approach is intended to address immune suppression within the tumor microenvironment and potentially improve patients' responses to existing cancer treatments.

Sensei's pipeline has included antibody-based and vaccine-based immunotherapies. Its lead programs have included SNS-101, an antibody designed to target the VISTA immune checkpoint, and earlier ImmunoPhage-based programs intended to stimulate tumor-specific immune responses.

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