Sana Biotechnology (NASDAQ:SANA) Trading Up 10.1% - What's Next?

Key Points

• Shares of Sana Biotechnology (NASDAQ:SANA) increased by 10.1% during mid-day trading, reaching a last traded price of $3.21.
• Wall Street analysts have a consensus rating of "Buy" for SANA, with target prices ranging from $5.00 to $12.00.
• Institutional investors hold 88.23% of Sana Biotechnology's stock, indicating strong interest from major investment firms.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price traded up 10.1% during trading on Thursday . The stock traded as high as $3.17 and last traded at $3.21. 1,932,813 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 5,767,992 shares. The stock had previously closed at $2.91.

Analyst Upgrades and Downgrades

SANA has been the subject of a number of recent analyst reports. Morgan Stanley started coverage on Sana Biotechnology in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $12.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and set a $5.00 price objective on shares of Sana Biotechnology in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $8.00.

Sana Biotechnology Stock Down 4.0%

The stock has a 50 day simple moving average of $3.72 and a 200-day simple moving average of $2.72.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. On average, sell-side analysts expect that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Sana Biotechnology

Institutional investors have recently modified their holdings of the stock. Viewpoint Capital Management LLC raised its holdings in Sana Biotechnology by 19.1% during the 2nd quarter. Viewpoint Capital Management LLC now owns 28,045 shares of the company's stock valued at $77,000 after buying an additional 4,500 shares during the period. Captrust Financial Advisors raised its stake in shares of Sana Biotechnology by 43.8% in the second quarter. Captrust Financial Advisors now owns 15,793 shares of the company's stock valued at $43,000 after acquiring an additional 4,807 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Sana Biotechnology by 46.9% in the second quarter. BNP Paribas Financial Markets now owns 15,444 shares of the company's stock valued at $42,000 after acquiring an additional 4,931 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sana Biotechnology by 2.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 280,731 shares of the company's stock worth $457,000 after acquiring an additional 6,613 shares during the last quarter. Finally, Summit X LLC boosted its stake in shares of Sana Biotechnology by 18.5% during the 2nd quarter. Summit X LLC now owns 42,665 shares of the company's stock worth $116,000 after purchasing an additional 6,665 shares during the period. 88.23% of the stock is 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.