Sana Biotechnology (NASDAQ:SANA) Stock Price Up 8.7% – What’s Next?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) traded up 8.7% during mid-day trading on Monday . The stock traded as high as $3.71 and last traded at $3.8250. 1,232,656 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 2,757,338 shares. The stock had previously closed at $3.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research downgraded Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Morgan Stanley restated an “overweight” rating and set a $12.00 price target on shares of Sana Biotechnology in a report on Friday, March 13th. Wedbush upped their price target on Sana Biotechnology from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Bank of America upped their price target on Sana Biotechnology from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen downgraded Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.20.

Sana Biotechnology Stock Up 8.4%

The stock has a market cap of $1.02 billion, a PE ratio of -3.93 and a beta of 2.06. The firm has a fifty day moving average of $3.47 and a 200 day moving average of $4.13.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). On average, equities research analysts forecast that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SANA. Balyasny Asset Management L.P. purchased a new position in Sana Biotechnology in the fourth quarter valued at approximately $6,834,000. Vanguard Group Inc. lifted its position 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 buying an additional 1,517,474 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 buying an additional 1,375,029 shares during the last quarter. State Street Corp boosted its holdings in shares of Sana Biotechnology by 20.6% in the 4th quarter. State Street Corp now owns 8,054,841 shares of the company’s stock valued at $32,783,000 after buying an additional 1,374,300 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in shares of Sana Biotechnology by 13.6% in the 3rd quarter. Baillie Gifford & Co. now owns 11,436,503 shares of the company’s stock valued at $40,600,000 after buying an additional 1,371,775 shares in the last quarter. 88.23% of the stock is owned by institutional investors and hedge funds.

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.