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

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $12.00 price target on shares of Sana Biotechnology in a research note on Friday, March 13th. HC Wainwright cut their price target on Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Weiss Ratings lowered Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Zacks Research cut Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Wedbush lifted their price objective on Sana Biotechnology from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sana Biotechnology presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Sana Biotechnology Trading Up 5.4%

The company has a market capitalization of $789.23 million, a price-to-earnings ratio of -3.05 and a beta of 2.14. The company has a fifty day moving average of $3.22 and a 200-day moving average of $3.81.

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, equities research analysts expect that Sana Biotechnology, Inc. will post -0.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SANA. Bank of America Corp DE boosted its holdings in shares of Sana Biotechnology by 148.4% during the 1st quarter. Bank of America Corp DE now owns 2,946,861 shares of the company’s stock worth $8,487,000 after purchasing an additional 1,760,610 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Sana Biotechnology during the 4th quarter worth approximately $6,834,000. Vanguard Group Inc. boosted its holdings in shares of Sana Biotechnology by 19.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,128,973 shares of the company’s stock worth $32,408,000 after purchasing an additional 1,517,474 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Sana Biotechnology by 180.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,135,444 shares of the company’s stock worth $7,581,000 after purchasing an additional 1,375,029 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Sana Biotechnology by 20.6% during the 4th quarter. State Street Corp now owns 8,054,841 shares of the company’s stock worth $32,783,000 after purchasing an additional 1,374,300 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.