Sana Biotechnology (NASDAQ:SANA) Shares Up 17.2% - Still a Buy?

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

Analysts Set New Price Targets

Several research firms have commented on SANA. JMP Securities reiterated a "market outperform" rating and set a $5.00 price objective on shares of Sana Biotechnology in a research note on Tuesday. Jefferies Financial Group began coverage on Sana Biotechnology in a research note on Friday, March 14th. They set a "buy" rating and a $7.00 price objective for the company. Citizens Jmp upgraded Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price objective for the company in a research note on Tuesday, March 18th. Finally, HC Wainwright reiterated a "buy" rating and set a $11.00 price objective on shares of Sana Biotechnology in a research note on Thursday, April 24th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $9.83.

Sana Biotechnology Stock Down 1.0%

The business has a 50-day moving average price of $2.14 and a 200-day moving average price of $2.35. The firm has a market capitalization of $647.13 million, a PE ratio of -3.26 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.02. On average, equities research analysts anticipate that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Sana Biotechnology

A number of large investors have recently made changes to their positions in SANA. Ieq Capital LLC purchased a new stake in shares of Sana Biotechnology in the fourth quarter valued at approximately $32,000. Bank of New York Mellon Corp lifted its holdings in Sana Biotechnology by 3.0% in the fourth 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $1,722,000 after acquiring an additional 8,666 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Sana Biotechnology by 161.7% in the fourth 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 during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in 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 during the last quarter. 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.