Sana Biotechnology (NASDAQ:SANA) Trading 14.1% Higher - Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s stock price shot up 14.1% during trading on Tuesday . The stock traded as high as $3.50 and last traded at $3.54. 1,998,283 shares traded hands during trading, a decline of 47% from the average session volume of 3,756,978 shares. The stock had previously closed at $3.10.

Analyst Ratings Changes

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

Sana Biotechnology Trading Up 1.2%

The stock has a market cap of $887.26 million, a PE ratio of -4.47 and a beta of 1.86. The business has a 50-day moving average price of $2.39 and a 200-day moving average price of $2.42.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last announced 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. Equities analysts expect that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Sana Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in SANA. Geode Capital Management LLC raised its holdings in shares of Sana Biotechnology by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,193,081 shares of the company's stock valued at $5,206,000 after buying an additional 26,601 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Sana Biotechnology by 7.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,108,617 shares of the company's stock worth $5,068,000 after buying an additional 219,498 shares during the last quarter. Integral Health Asset Management LLC increased its stake in shares of Sana Biotechnology by 11.1% in the fourth quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company's stock worth $3,260,000 after buying an additional 200,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Sana Biotechnology by 44.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,557,496 shares of the company's stock worth $2,538,000 after buying an additional 478,596 shares during the last quarter. Finally, Boxer Capital Management LLC bought a new stake in shares of Sana Biotechnology in the 4th quarter worth about $2,518,000. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

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.