Sana Biotechnology (NASDAQ:SANA) Trading 8% Higher – Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA) shares rose 8% during trading on Tuesday . The company traded as high as $2.90 and last traded at $2.9050. Approximately 5,943,148 shares changed hands during mid-day trading, an increase of 88% from the average daily volume of 3,153,339 shares. The stock had previously closed at $2.69.

Analyst Ratings Changes

SANA has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $12.00 price objective on shares of Sana Biotechnology in a report on Friday, March 13th. Weiss Ratings cut Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. HC Wainwright decreased their price objective on Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Rodman & Renshaw initiated coverage on Sana Biotechnology in a report on Monday, May 11th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Zacks Research cut Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Seven investment analysts have rated the stock with 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Sana Biotechnology Stock Up 5.4%

The company has a market cap of $789.23 million, a PE ratio of -3.05 and a beta of 2.14. The business has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $3.81.

Sana Biotechnology (NASDAQ:SANA) last announced its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. As a group, equities research analysts predict that Sana Biotechnology, Inc. will post -0.59 EPS for the current fiscal year.

Institutional Trading of Sana Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SANA. Bank of America Corp DE raised its position in Sana Biotechnology by 148.4% in the first quarter. Bank of America Corp DE now owns 2,946,861 shares of the company’s stock valued at $8,487,000 after purchasing an additional 1,760,610 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Sana Biotechnology in the fourth quarter valued at approximately $6,834,000. Vanguard Group Inc. raised its position in Sana Biotechnology by 19.9% in the third quarter. Vanguard Group Inc. now owns 9,128,973 shares of the company’s stock valued at $32,408,000 after purchasing an additional 1,517,474 shares during the period. JPMorgan Chase & Co. increased its position in shares of Sana Biotechnology by 180.8% during the third quarter. JPMorgan Chase & Co. now owns 2,135,444 shares of the company’s stock worth $7,581,000 after acquiring an additional 1,375,029 shares during the period. Finally, State Street Corp increased its position in shares of Sana Biotechnology by 20.6% during the fourth quarter. State Street Corp now owns 8,054,841 shares of the company’s stock worth $32,783,000 after acquiring an additional 1,374,300 shares during the period. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

Sana Biotechnology is a clinical-stage biopharmaceutical company focused on the development of engineered cells as medicines with the goal of treating a broad range of diseases. The company applies advanced gene editing and gene delivery technologies to create next-generation cell therapy products for oncology, genetic disorders and other serious diseases. By leveraging both ex vivo and in vivo approaches, Sana aims to repair or replace damaged cells and restore healthy tissue function.

The company’s core platform integrates proprietary gene writing capabilities alongside established gene editing tools such as CRISPR–Cas9.