Sana Biotechnology (NASDAQ:SANA) Trading Up 10.1% - Still a Buy?

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) shares rose 10.1% during mid-day trading on Thursday . The company traded as high as $3.17 and last traded at $3.21. Approximately 1,932,813 shares changed hands during trading, a decline of 66% from the average daily volume of 5,767,992 shares. The stock had previously closed at $2.91.

Wall Street Analyst Weigh In

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

Sana Biotechnology Stock Up 16.7%

The firm's 50 day simple moving average is $3.72 and its 200-day simple moving average is $2.70. The company has a market capitalization of $807.35 million, a PE ratio of -3.20 and a beta of 1.88.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Marex Group plc acquired a new position in shares of Sana Biotechnology during the second quarter worth $10,423,000. Dimensional Fund Advisors LP lifted its position in shares of Sana Biotechnology by 44.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,557,496 shares of the company's stock worth $2,538,000 after purchasing an additional 478,596 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Sana Biotechnology by 136.7% during the second quarter. AQR Capital Management LLC now owns 1,356,363 shares of the company's stock worth $3,703,000 after purchasing an additional 783,217 shares in the last quarter. Northern Trust Corp lifted its position in shares of Sana Biotechnology by 5.3% during the fourth quarter. Northern Trust Corp now owns 1,188,346 shares of the company's stock worth $1,937,000 after purchasing an additional 60,004 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Sana Biotechnology by 264.7% in the second quarter. Corient Private Wealth LLC now owns 1,136,000 shares of the company's stock valued at $3,101,000 after acquiring an additional 824,505 shares in the last quarter. 88.23% of the stock is owned by institutional investors and hedge funds.

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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