Sana Biotechnology (NASDAQ:SANA) Sees Strong Trading Volume – Time to Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA) saw unusually-high trading volume on Thursday . Approximately 20,133,916 shares changed hands 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.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SANA shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 target price on shares of Sana Biotechnology in a research report on Friday, March 13th. Wall Street Zen raised shares of Sana Biotechnology from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Rodman & Renshaw initiated coverage on Sana Biotechnology in a research report on Monday. They set a “buy” rating and a $16.00 target price on the stock. Finally, Wedbush boosted their target price on Sana Biotechnology from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Sana Biotechnology Price Performance

The business’s 50-day moving average price is $3.29 and its 200-day moving average price is $3.98. The firm has a market capitalization of $866.87 million, a PE ratio of -3.34 and a beta of 2.17.

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

Institutional Trading of Sana Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV acquired a new stake in Sana Biotechnology during the 3rd quarter worth approximately $36,000. TD Waterhouse Canada Inc. acquired a new position in shares of Sana Biotechnology in the third quarter valued at approximately $37,000. Lyell Wealth Management LP acquired a new position in shares of Sana Biotechnology in the third quarter valued at approximately $37,000. Rockefeller Capital Management L.P. raised its stake in shares of Sana Biotechnology by 74.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock worth $39,000 after purchasing an additional 4,088 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Sana Biotechnology during the third quarter worth $39,000. 88.23% of the stock is owned by hedge funds and other institutional investors.

About Sana Biotechnology

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.