Sana Biotechnology (NASDAQ:SANA) Shares Up 14.1% - Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) rose 14.1% during mid-day trading on Tuesday . The stock traded as high as $3.50 and last traded at $3.54. Approximately 1,998,283 shares were traded during trading, a decline of 47% from the average daily volume of 3,756,978 shares. The stock had previously closed at $3.10.

Wall Street Analyst Weigh In

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

Sana Biotechnology Stock Performance

The business's 50 day moving average is $2.34 and its 200-day moving average is $2.41. The stock has a market cap of $877.12 million, a price-to-earnings ratio of -4.42 and a beta of 1.86.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last issued its quarterly earnings data 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. Sell-side analysts anticipate that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Sana Biotechnology

Several large investors have recently modified their holdings of SANA. Cerity Partners LLC acquired a new stake in shares of Sana Biotechnology during the fourth quarter worth $25,000. Tower Research Capital LLC TRC increased its position in shares of 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 in the last quarter. Syon Capital LLC acquired a new stake in shares of Sana Biotechnology during the fourth quarter valued at $27,000. Ameriprise Financial Inc. acquired a new stake in shares of Sana Biotechnology during the fourth quarter valued at $29,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Sana Biotechnology during the first quarter valued at $29,000. 88.23% of the stock is owned by institutional investors and hedge funds.

About Sana Biotechnology

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.