Sana Biotechnology (NASDAQ:SANA) Shares Up 7.6% – Time to Buy?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) shot up 7.6% during trading on Wednesday . The company traded as high as $3.00 and last traded at $3.0450. 943,897 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 3,132,178 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

A number of research firms have commented on SANA. Zacks Research downgraded shares of Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Wall Street Zen downgraded shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Weiss Ratings downgraded shares of Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Wedbush raised their price target on shares of Sana Biotechnology from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Finally, Rodman & Renshaw assumed coverage on shares of Sana Biotechnology in a report on Monday, May 11th. They issued a “buy” rating and a $16.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.50.

Sana Biotechnology Stock Performance

The company has a market cap of $885.80 million, a PE ratio of -3.41 and a beta of 2.14. The company’s 50-day simple moving average is $3.20 and its 200 day simple moving average is $3.78.

Sana Biotechnology (NASDAQ:SANA) last issued 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. Analysts forecast that Sana Biotechnology, Inc. will post -0.59 EPS for the current year.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its position in Sana Biotechnology by 74.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock valued at $39,000 after buying an additional 4,088 shares during the period. LRI Investments LLC purchased a new position in Sana Biotechnology in the 4th quarter valued at approximately $41,000. Jacobi Capital Management LLC purchased a new position in Sana Biotechnology in the 4th quarter valued at approximately $41,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Sana Biotechnology during the 3rd quarter worth $36,000. Finally, Foguth Wealth Management LLC. purchased a new stake in shares of Sana Biotechnology during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

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.