Sana Biotechnology (NASDAQ:SANA) Stock Price Up 7.3% - Here's What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s stock price shot up 7.3% during trading on Tuesday . The stock traded as high as $2.73 and last traded at $2.71. 404,175 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 3,538,041 shares. The stock had previously closed at $2.52.

Analysts Set New Price Targets

Several research firms have commented on SANA. Citizens Jmp raised Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research report on Tuesday, March 18th. Jefferies Financial Group initiated coverage on Sana Biotechnology in a research note on Friday, March 14th. They set a "buy" rating and a $7.00 target price for the company. Finally, HC Wainwright restated a "buy" rating and set a $11.00 target price on shares of Sana Biotechnology in a research note on Thursday, April 24th. One 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 an average target price of $10.80.

Sana Biotechnology Stock Down 5.4%

The firm has a 50 day moving average price of $2.07 and a two-hundred day moving average price of $2.34. The company has a market capitalization of $588.50 million, a price-to-earnings ratio of -2.97 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) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.02. Analysts predict that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in Sana Biotechnology by 229.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock worth $25,000 after purchasing an additional 10,548 shares in the last quarter. Cerity Partners LLC acquired a new position in Sana Biotechnology in the fourth quarter worth about $25,000. Syon Capital LLC acquired a new position in Sana Biotechnology in the fourth quarter worth about $27,000. Pallas Capital Advisors LLC acquired a new position in Sana Biotechnology in the first quarter worth about $29,000. Finally, Ameriprise Financial Inc. acquired a new position in Sana Biotechnology in the fourth quarter worth about $29,000. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.