Sana Biotechnology (NASDAQ:SANA) Trading 7.8% Higher – Time to Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA) traded up 7.8% during mid-day trading on Friday . The stock traded as high as $3.51 and last traded at $3.5150. Approximately 550,561 shares were traded during mid-day trading, a decline of 83% from the average session volume of 3,184,175 shares. The stock had previously closed at $3.26.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wedbush raised their target price on 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 report on Friday, May 1st. Zacks Research downgraded Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Morgan Stanley reissued an “overweight” rating and issued a $12.00 price target on shares of Sana Biotechnology in a report on Friday, March 13th. Finally, Rodman & Renshaw assumed coverage on Sana Biotechnology in a research note on Monday, May 11th. They set a “buy” rating and a $16.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Sana Biotechnology Trading Up 4.4%

The company’s fifty day moving average is $3.20 and its 200 day moving average is $3.71. The company has a market cap of $947.58 million, a P/E ratio of -3.66 and a beta of 2.14.

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

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Sana Biotechnology by 76.8% in 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 bought a new position in Sana Biotechnology during the 3rd quarter valued at approximately $36,000. Rockefeller Capital Management L.P. raised its position in Sana Biotechnology by 74.3% during the 4th 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 during the last quarter. Russell Investments Group Ltd. purchased a new stake in Sana Biotechnology in the 3rd quarter worth approximately $39,000. Finally, LRI Investments LLC purchased a new stake in Sana Biotechnology in the 4th quarter worth approximately $41,000. 88.23% of the stock is owned by institutional investors.

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.