Sana Biotechnology (NASDAQ:SANA) Trading Up 8.5% – Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA) rose 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

SANA has been the subject of a number of research reports. Wall Street Zen cut shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research report on Sunday, June 7th. Wedbush increased their price target on shares of Sana Biotechnology from $6.00 to $7.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Weiss Ratings cut shares of Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Morgan Stanley restated an “overweight” rating and set a $12.00 price objective on shares of Sana Biotechnology in a research report on Friday, March 13th. Finally, HC Wainwright reduced their target price on Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sana Biotechnology has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Sana Biotechnology Stock Up 6.6%

The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -4.08 and a beta of 2.13. The business has a 50 day moving average of $3.20 and a 200 day moving average of $3.68.

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

Hedge Funds Weigh In On Sana Biotechnology

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Sana Biotechnology by 148.4% during 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 buying an additional 1,760,610 shares during the period. Royal Bank of Canada grew its stake 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 acquiring an additional 5,338 shares during the period. Cetera Investment Advisers raised its holdings in Sana Biotechnology by 50.2% in the 1st quarter. Cetera Investment Advisers now owns 26,181 shares of the company’s stock valued at $75,000 after acquiring an additional 8,750 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Sana Biotechnology by 118.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 291,268 shares of the company’s stock valued at $839,000 after acquiring an additional 158,190 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of 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 purchasing an additional 6,800 shares during the period. Institutional investors and hedge funds 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.