Sana Biotechnology (NASDAQ:SANA) Stock Price Up 7.3% - Still a Buy?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) rose 7.3% on Tuesday . The company traded as high as $2.73 and last traded at $2.71. Approximately 404,175 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 3,538,041 shares. The stock had previously closed at $2.52.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SANA. Citizens Jmp raised 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 research note on Tuesday, March 18th. Jefferies Financial Group began coverage on shares of Sana Biotechnology in a research note on Friday, March 14th. They issued a "buy" rating and a $7.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $11.00 price objective 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.80.

Sana Biotechnology Stock Performance

The business has a 50 day simple moving average of $2.01 and a 200-day simple moving average of $2.34. The firm has a market capitalization of $633.60 million, a price-to-earnings ratio of -3.19 and a beta of 1.78.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.02. Equities analysts predict that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Sana Biotechnology

Several institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Sana Biotechnology by 203.4% during the fourth quarter. Blue Trust Inc. now owns 39,827 shares of the company's stock worth $65,000 after acquiring an additional 26,698 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Sana Biotechnology during the 4th quarter worth about $32,000. Bank of New York Mellon Corp raised its holdings in 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 buying an additional 9,905 shares during the period. Charles Schwab Investment Management Inc. lifted 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 valued at $1,722,000 after buying an additional 8,666 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Sana Biotechnology by 161.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,182,699 shares of the company's stock worth $1,928,000 after buying an additional 730,699 shares during the period. Hedge funds and other institutional investors 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.