Sana Biotechnology (NASDAQ:SANA) Stock Price Up 7.8% – Here’s Why

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

Analyst Ratings Changes

Several analysts recently weighed in on SANA shares. Wedbush lifted their price target on shares of Sana Biotechnology from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Wall Street Zen lowered shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. HC Wainwright cut their target price on shares of Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley reiterated an “overweight” rating and set a $12.00 price target on shares of Sana Biotechnology in a research report on Friday, March 13th. Finally, Rodman & Renshaw started coverage on Sana Biotechnology in a research report on Monday, May 11th. They issued a “buy” rating and a $16.00 target price for the company. Seven 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 data from MarketBeat, Sana Biotechnology presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Sana Biotechnology Trading Up 4.4%

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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SANA. Royal Bank of Canada boosted its holdings in 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 acquiring an additional 5,338 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Sana Biotechnology during the third quarter valued at $36,000. Rockefeller Capital Management L.P. increased its holdings 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 valued at $39,000 after acquiring an additional 4,088 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Sana Biotechnology in the 3rd quarter worth about $39,000. Finally, LRI Investments LLC purchased a new position in shares of Sana Biotechnology in the 4th quarter worth about $41,000. 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.