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

Key Points

• Sensei Biotherapeutics shares opened higher at $21.00 versus the prior close of $20.00, though they later traded near $19.39 on relatively light volume.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $56.25, despite one sell rating from Weiss Ratings.
• The company beat quarterly EPS estimates, reporting a loss of $2.84 per share versus the expected $5.04 loss. Institutional investors also increased exposure, collectively owning 10.5% of the stock.

Sensei Biotherapeutics, Inc. (NASDAQ:FTH - Get Free Report) gapped up before the market opened on Friday. The stock had previously closed at $20.00, but opened at $21.00. Sensei Biotherapeutics shares last traded at $19.3890, with a volume of 10,288 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FTH shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Sensei Biotherapeutics in a research note on Monday, September 14th. BTIG Research reiterated a "buy" rating and issued a $55.00 target price on shares of Sensei Biotherapeutics in a research note on Thursday, July 16th. HC Wainwright reissued a "buy" rating and issued a $60.00 price target on shares of Sensei Biotherapeutics in a report on Tuesday, August 11th. William Blair began coverage on Sensei Biotherapeutics in a research report on Friday. They set an "outperform" rating on the stock. Finally, Citizens Jmp assumed coverage on Sensei Biotherapeutics in a report on Monday, July 20th. They set an "outperform" rating and a $51.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.25.

Sensei Biotherapeutics Stock Performance

The firm has a market cap of $502.43 million, a P/E ratio of -0.14 and a beta of -0.29. The company's 50-day simple moving average is $31.50.

Sensei Biotherapeutics (NASDAQ:FTH - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($2.84) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($5.04) by $2.20. As a group, equities research analysts forecast that Sensei Biotherapeutics, Inc. will post -13.69 earnings per share for the current year.

Hedge Funds Weigh In On Sensei Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in shares of Sensei Biotherapeutics during the 2nd quarter worth $307,000. Alyeska Investment Group L.P. bought a new position in shares of Sensei Biotherapeutics during the 2nd quarter valued at $3,610,000. Vivo Capital LLC bought a new position in shares of Sensei Biotherapeutics in the first quarter worth approximately $22,758,000. Bank of America Corp DE lifted its holdings in Sensei Biotherapeutics by 10,692.5% in the 1st quarter. Bank of America Corp DE now owns 33,025 shares of the company's stock worth $1,041,000 after buying an additional 32,719 shares during the period. Finally, Stempoint Capital LP purchased a new position in shares of Sensei Biotherapeutics during the first quarter valued at about $4,188,000. 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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