Sana Biotechnology (NASDAQ:SANA) Shares Up 47.2% - What's Next?

Key Points

• Sana Biotechnology's shares surged by 47.2% on Wednesday, closing at $6.55 after trading as high as $4.65.
• Analysts have mixed forecasts with Morgan Stanley setting a target price of $12.00, while Weiss Ratings maintains a "sell" rating.
• The company reported an earnings per share of ($0.16), surpassing expectations and is projected to post ($1.16) for the current fiscal year.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price shot up 47.2% during trading on Wednesday . The company traded as high as $4.65 and last traded at $6.55. 242,641 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 5,525,965 shares. The stock had previously closed at $4.45.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SANA shares. Morgan Stanley started coverage on Sana Biotechnology in a report on Thursday, July 3rd. They set an "overweight" rating and a $12.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sana Biotechnology in a research report on Wednesday, October 8th. Wedbush initiated coverage on shares of Sana Biotechnology in a research note on Wednesday, September 24th. They issued an "outperform" rating and a $5.00 price objective on the stock. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $5.00 target price on shares of Sana Biotechnology in a research report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.50.

Sana Biotechnology Stock Performance

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -5.20 and a beta of 1.91. The company has a 50-day moving average price of $3.43 and a 200-day moving average price of $2.91.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.04. As a group, sell-side analysts anticipate that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in shares of Sana Biotechnology by 673.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,911 shares of the company's stock worth $30,000 after purchasing an additional 9,501 shares during the last quarter. Hoey Investments Inc. acquired a new position in Sana Biotechnology in the 2nd quarter valued at $33,000. BNP Paribas Financial Markets grew its holdings in Sana Biotechnology by 46.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 15,444 shares of the company's stock valued at $42,000 after buying an additional 4,931 shares in the last quarter. Captrust Financial Advisors grew its holdings in Sana Biotechnology by 43.8% in the 2nd quarter. Captrust Financial Advisors now owns 15,793 shares of the company's stock valued at $43,000 after buying an additional 4,807 shares in the last quarter. Finally, Good Life Advisors LLC acquired a new position in Sana Biotechnology in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 88.23% of the company's stock.

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.

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