Sana Biotechnology (NASDAQ:SANA) Shares Gap Up - Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $3.89, but opened at $4.18. Sana Biotechnology shares last traded at $4.04, with a volume of 3,804,670 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SANA. Morgan Stanley began coverage on Sana Biotechnology in a report on Thursday, July 3rd. They set an "overweight" rating and a $12.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $11.00 price target on shares of Sana Biotechnology in a report on Thursday, April 24th. Citizens Jmp upgraded Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price target on the stock in a report on Tuesday, March 18th. Jefferies Financial Group assumed coverage on Sana Biotechnology in a report on Friday, March 14th. They set a "buy" rating and a $7.00 price target on the stock. Finally, JMP Securities reiterated a "market outperform" rating and issued a $5.00 target price on shares of Sana Biotechnology in a report on Tuesday, June 24th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $9.17.

Sana Biotechnology Stock Up 3.0%

The company has a 50 day simple moving average of $2.52 and a 200-day simple moving average of $2.46. The stock has a market capitalization of $942.51 million, a price-to-earnings ratio of -4.75 and a beta of 1.86.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. As a group, sell-side analysts anticipate that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in Sana Biotechnology by 229.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock valued at $25,000 after buying an additional 10,548 shares during the period. Cerity Partners LLC acquired a new position in shares of Sana Biotechnology during the fourth quarter worth approximately $25,000. Syon Capital LLC acquired a new position in shares of Sana Biotechnology during the fourth quarter worth approximately $27,000. Pallas Capital Advisors LLC acquired a new position in shares of Sana Biotechnology during the first quarter worth approximately $29,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Sana Biotechnology during the fourth quarter worth approximately $29,000. 88.23% of the stock is owned by institutional investors and hedge funds.

Sana Biotechnology Company Profile

Sana Biotechnology, Inc, a biotechnology company, focuses on utilizing engineered cells as medicines. It develops ex vivo and in vivo cell engineering platforms for various therapeutic areas with unmet treatment needs, including oncology, diabetes, central nervous system disorders, B-cell-mediated autoimmune, and others.