Sana Biotechnology (NASDAQ:SANA) Trading 9.1% Higher - Should You Buy?

Key Points

• Sana Biotechnology's stock price surged 9.1% during mid-day trading, reaching a high of $4.36 before closing at $4.50.
• Analysts maintain positive outlooks with an average price target of $7.50 and seven analysts rating the stock as a Buy, despite one having a Sell rating.
• Following its latest earnings report, Sana exceeded expectations by reporting ($0.16) earnings per share, beating the consensus estimate by $0.04.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price shot up 9.1% during mid-day trading on Wednesday . The stock traded as high as $4.36 and last traded at $4.50. 1,295,812 shares were traded during mid-day trading, a decline of 77% from the average session volume of 5,571,586 shares. The stock had previously closed at $4.12.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SANA. JMP Securities reiterated a "market outperform" rating and issued a $5.00 price target on shares of Sana Biotechnology in a report on Tuesday, June 24th. Morgan Stanley initiated coverage on Sana Biotechnology in a report on Thursday, July 3rd. They issued an "overweight" rating and a $12.00 price target on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Sana Biotechnology in a report on Wednesday. Finally, Wedbush initiated coverage on Sana Biotechnology in a report on Wednesday, September 24th. They set an "outperform" rating and a $5.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $7.50.

Sana Biotechnology Stock Performance

The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -4.35 and a beta of 1.91. The company has a 50-day simple moving average of $3.41 and a two-hundred day simple moving average of $2.82.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. As a group, sell-side analysts predict that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Sana Biotechnology by 241.5% during the 1st quarter. Invesco Ltd. now owns 165,646 shares of the company's stock worth $278,000 after acquiring an additional 117,144 shares during the period. SCS Capital Management LLC bought a new stake in Sana Biotechnology in the 1st quarter valued at $137,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Sana Biotechnology by 10.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,282 shares of the company's stock valued at $455,000 after purchasing an additional 25,383 shares during the period. Ieq Capital LLC boosted its stake in Sana Biotechnology by 428.7% in the 1st quarter. Ieq Capital LLC now owns 104,832 shares of the company's stock valued at $176,000 after purchasing an additional 85,004 shares during the period. Finally, Deutsche Bank AG raised its holdings in Sana Biotechnology by 87.9% in the 1st quarter. Deutsche Bank AG now owns 666,392 shares of the company's stock valued at $1,120,000 after acquiring an additional 311,692 shares in the last quarter. 88.23% of the stock is currently owned by 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.

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