Sana Biotechnology (NASDAQ:SANA) Stock Price Up 7.6% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price rose 7.6% during mid-day trading on Wednesday . The stock traded as high as $3.00 and last traded at $3.0450. 943,897 shares changed hands during trading, a decline of 70% from the average session volume of 3,132,178 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

SANA has been the topic of a number of research analyst reports. Zacks Research lowered shares of Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Wall Street Zen lowered shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research report on Sunday, June 7th. Weiss Ratings downgraded Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. Wedbush lifted their price target on Sana Biotechnology from $6.00 to $7.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Finally, HC Wainwright cut their price objective on Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.50.

Sana Biotechnology Stock Performance

The stock has a market capitalization of $876.61 million, a P/E ratio of -3.39 and a beta of 2.14. The stock has a 50-day moving average price of $3.20 and a two-hundred day moving average price of $3.76.

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

Institutional Investors Weigh In On Sana Biotechnology

A number of large investors have recently modified their holdings of SANA. JPMorgan Chase & Co. raised its stake in Sana Biotechnology by 180.8% in the third quarter. JPMorgan Chase & Co. now owns 2,135,444 shares of the company’s stock worth $7,581,000 after buying an additional 1,375,029 shares in the last quarter. Integral Health Asset Management LLC boosted its position in Sana Biotechnology by 33.3% during the 3rd quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company’s stock valued at $7,100,000 after acquiring an additional 500,000 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Sana Biotechnology during the 3rd quarter worth approximately $951,000. Ovata Capital Management Ltd bought a new position in shares of Sana Biotechnology in the 3rd quarter worth approximately $355,000. Finally, Clearline Capital LP raised its position in shares of Sana Biotechnology by 27.8% in the 3rd quarter. Clearline Capital LP now owns 524,547 shares of the company’s stock worth $1,862,000 after acquiring an additional 114,012 shares in the last quarter. Institutional investors own 88.23% of the company’s stock.

About Sana Biotechnology

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.