Sana Biotechnology (NASDAQ:SANA) Stock Price Up 17.2% - Should You Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price shot up 17.2% during trading on Monday . The company traded as high as $2.87 and last traded at $3.06. 1,420,379 shares traded hands during trading, a decline of 61% from the average session volume of 3,610,440 shares. The stock had previously closed at $2.61.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SANA. Citizens Jmp upgraded shares of Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 target price on the stock in a report on Tuesday, March 18th. Jefferies Financial Group began coverage on shares of Sana Biotechnology in a research note on Friday, March 14th. They set a "buy" rating and a $7.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $11.00 target price on shares of Sana Biotechnology in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Sana Biotechnology presently has an average rating of "Moderate Buy" and an average price target of $10.80.

Sana Biotechnology Stock Performance

The company's fifty day moving average price is $2.07 and its two-hundred day moving average price is $2.34. The firm has a market capitalization of $598.65 million, a PE ratio of -2.99 and a beta of 1.78.

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

Hedge Funds Weigh In On Sana Biotechnology

A number of large investors have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Sana Biotechnology by 203.4% during the 4th quarter. Blue Trust Inc. now owns 39,827 shares of the company's stock worth $65,000 after purchasing an additional 26,698 shares during the period. Ieq Capital LLC acquired a new stake in shares of Sana Biotechnology in the fourth quarter worth $32,000. Bank of New York Mellon Corp raised its stake in shares of Sana Biotechnology by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 336,828 shares of the company's stock valued at $549,000 after acquiring an additional 9,905 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sana Biotechnology by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,056,512 shares of the company's stock valued at $1,722,000 after acquiring an additional 8,666 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Sana Biotechnology by 161.7% during the 4th quarter. Corient Private Wealth LLC now owns 1,182,699 shares of the company's stock valued at $1,928,000 after acquiring an additional 730,699 shares in the last quarter. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.