Sana Biotechnology (NASDAQ:SANA) Trading Up 8.5% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price was up 8.5% during trading on Thursday . The company traded as high as $3.78 and last traded at $3.8640. Approximately 339,700 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 3,225,221 shares. The stock had previously closed at $3.56.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SANA shares. Morgan Stanley reiterated an “overweight” rating and set a $12.00 target price on shares of Sana Biotechnology in a research 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. Wall Street Zen downgraded Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. Rodman & Renshaw started coverage on Sana Biotechnology in a research note on Monday, May 11th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, HC Wainwright dropped 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. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sana Biotechnology presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Sana Biotechnology Stock Up 6.6%

The stock has a market cap of $1.06 billion, a PE ratio of -4.08 and a beta of 2.13. The business’s fifty day moving average is $3.20 and its 200 day moving average is $3.68.

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

Institutional Investors Weigh In On Sana Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in Sana Biotechnology by 76.8% during the first quarter. Royal Bank of Canada now owns 12,285 shares of the company’s stock worth $35,000 after purchasing an additional 5,338 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Sana Biotechnology in the third quarter valued at $36,000. Rockefeller Capital Management L.P. increased its position in shares of Sana Biotechnology by 74.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock valued at $39,000 after buying an additional 4,088 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Sana Biotechnology in the third quarter valued at $39,000. Finally, LRI Investments LLC acquired a new position in shares of Sana Biotechnology during the 4th quarter worth $41,000. Institutional investors and hedge funds 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.