Sana Biotechnology (NASDAQ:SANA) Stock Price Up 10.4% – Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price traded up 10.4% on Thursday . The company traded as high as $3.24 and last traded at $3.2250. 533,247 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,137,957 shares. The stock had previously closed at $2.92.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SANA shares. Wall Street Zen downgraded shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Weiss Ratings upgraded shares of Sana Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. Bank of America decreased their target price on Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, TD Cowen upgraded Sana Biotechnology to a “strong-buy” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Sana Biotechnology Stock Up 8.4%

The firm has a 50-day moving average of $3.53 and a 200 day moving average of $3.37. The stock has a market capitalization of $947.47 million, a P/E ratio of -4.16 and a beta of 2.12.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Analysts predict that Sana Biotechnology, Inc. will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

A number of large investors have recently modified their holdings of SANA. Rockefeller Capital Management L.P. increased its holdings 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 purchasing an additional 4,088 shares in the last quarter. Royal Bank of Canada raised its position in Sana Biotechnology by 76.8% in the 1st 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. Swiss National Bank lifted its holdings in Sana Biotechnology by 2.0% during the 1st quarter. Swiss National Bank now owns 342,600 shares of the company’s stock worth $987,000 after buying an additional 6,800 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Sana Biotechnology by 50.2% during the 1st quarter. Cetera Investment Advisers now owns 26,181 shares of the company’s stock worth $75,000 after buying an additional 8,750 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in Sana Biotechnology in the 2nd quarter valued at $35,000. 88.23% of the stock is currently owned by institutional investors and hedge funds.

Sana Biotechnology Company Profile

Sana Biotechnology, Inc is a clinical-stage biotechnology company focused on developing engineered cells and gene therapies for the treatment of serious diseases. The company’s approach is designed to create therapeutic cells that can be delivered to patients without requiring individualized manufacturing, potentially broadening access to cell-based medicines.

Sana is developing technologies intended to address key challenges in cell and gene therapy, including immune rejection, targeted delivery of genetic material and the production of engineered cells at scale.