Sana Biotechnology (NASDAQ:SANA) Sees Strong Trading Volume – Here’s Why

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) saw unusually-high trading volume on Thursday . Approximately 20,133,916 shares were traded during trading, an increase of 624% from the previous session’s volume of 2,780,300 shares.The stock last traded at $3.1850 and had previously closed at $3.20.

Analysts Set New Price Targets

SANA has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and set a $12.00 price objective on shares of Sana Biotechnology in a research note on Friday, March 13th. Wall Street Zen upgraded shares of Sana Biotechnology from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright reduced their price objective on shares of Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Zacks Research lowered shares of Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Wedbush raised their price objective on shares of Sana Biotechnology from $6.00 to $7.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Sana Biotechnology Stock Performance

The business’s fifty day moving average price is $3.26 and its 200-day moving average price is $3.96. The stock has a market cap of $854.35 million, a PE ratio of -3.30 and a beta of 2.17.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Analysts forecast that Sana Biotechnology, Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of Sana Biotechnology

A number of institutional investors have recently made changes to their positions in SANA. AQR Capital Management LLC boosted its holdings in shares of Sana Biotechnology by 49.8% during the 1st quarter. AQR Capital Management LLC now owns 573,146 shares of the company’s stock valued at $963,000 after acquiring an additional 190,483 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Sana Biotechnology by 13.1% during the 1st quarter. Woodline Partners LP now owns 780,656 shares of the company’s stock valued at $1,312,000 after acquiring an additional 90,515 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Sana Biotechnology by 86.8% during the 2nd quarter. Franklin Resources Inc. now owns 93,081 shares of the company’s stock valued at $254,000 after acquiring an additional 43,247 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Sana Biotechnology by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 203,283 shares of the company’s stock valued at $555,000 after acquiring an additional 21,149 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Sana Biotechnology during the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors 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.