Sana Biotechnology (NASDAQ:SANA) Stock Price Up 10.9% - Here's Why

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares traded up 10.9% on Tuesday . The stock traded as high as $2.44 and last traded at $2.44. 1,874,688 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 3,471,647 shares. The stock had previously closed at $2.20.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citizens Jmp raised shares of 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. HC Wainwright reaffirmed a "buy" rating and set a $11.00 price target on shares of Sana Biotechnology in a research report on Thursday, April 24th. Finally, Jefferies Financial Group assumed coverage on shares of Sana Biotechnology in a research report on Friday, March 14th. They set a "buy" rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.80.

Sana Biotechnology Price Performance

The firm has a market capitalization of $559.18 million, a P/E ratio of -1.77 and a beta of 1.78. The business's 50-day moving average is $1.79 and its 200 day moving average is $2.33.

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

Institutional Investors Weigh In On Sana Biotechnology

Hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC acquired a new stake in shares of Sana Biotechnology in the 4th quarter valued at approximately $25,000. Tower Research Capital LLC TRC boosted its stake in shares of Sana Biotechnology by 229.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock valued at $25,000 after purchasing an additional 10,548 shares in the last quarter. Syon Capital LLC acquired a new stake in shares of Sana Biotechnology in the 4th quarter valued at approximately $27,000. Ameriprise Financial Inc. acquired a new stake in shares of Sana Biotechnology in the 4th quarter valued at approximately $29,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Sana Biotechnology in the 1st quarter valued at approximately $29,000. 88.23% of the stock is currently 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.