Sana Biotechnology (NASDAQ:SANA) Trading 8.3% Higher - Time to Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) traded up 8.3% on Tuesday . The company traded as high as $3.05 and last traded at $3.06. 1,090,802 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 3,523,854 shares. The stock had previously closed at $2.83.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SANA shares. Citizens Jmp upgraded shares of Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 target price for the company in a research note on Tuesday, March 18th. Jefferies Financial Group began coverage on Sana Biotechnology in a report on Friday, March 14th. They set a "buy" rating and a $7.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $11.00 price target on shares of Sana Biotechnology in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Sana Biotechnology presently has an average rating of "Moderate Buy" and an average target price of $10.80.

Sana Biotechnology Stock Up 2.0%

The firm has a market capitalization of $583.99 million, a price-to-earnings ratio of -1.85 and a beta of 1.78. The company has a 50-day moving average price of $1.93 and a 200-day moving average price of $2.34.

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

Hedge Funds Weigh In On Sana Biotechnology

Several large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its holdings in shares of Sana Biotechnology by 20.3% in the fourth quarter. Teacher Retirement System of Texas now owns 36,797 shares of the company's stock valued at $60,000 after acquiring an additional 6,209 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sana Biotechnology by 2.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 280,731 shares of the company's stock valued at $457,000 after buying an additional 6,613 shares during the period. Bank of New York Mellon Corp grew its holdings in Sana Biotechnology by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 344,058 shares of the company's stock worth $578,000 after acquiring an additional 7,230 shares during the period. Charles Schwab Investment Management Inc. raised its position in Sana Biotechnology by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,056,512 shares of the company's stock worth $1,722,000 after acquiring an additional 8,666 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Sana Biotechnology by 26.5% in the first quarter. Hsbc Holdings PLC now owns 41,377 shares of the company's stock worth $65,000 after acquiring an additional 8,673 shares in the last quarter. Institutional investors and hedge funds own 88.23% of the company's stock.

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.