Sana Biotechnology (NASDAQ:SANA) Shares Up 8.8% - Should You Buy?

Key Points

• Sana Biotechnology's shares rose by 8.8% during trading, with a last recorded price of $4.26, despite a noticeable decline in trading volume compared to the average.
• Multiple analysts have issued positive ratings for Sana Biotechnology, with consensus recommendations indicating a "Buy" rating and an average price target of $9.17.
• The company reported a quarterly EPS of ($0.20), which exceeded analysts' estimates, indicating potential for future growth amid a market capitalization of approximately $953.78 million.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price rose 8.8% during mid-day trading on Monday . The stock traded as high as $4.22 and last traded at $4.26. Approximately 1,668,240 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 5,818,579 shares. The stock had previously closed at $3.91.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SANA. JMP Securities reiterated a "market outperform" rating and issued a $5.00 target price on shares of Sana Biotechnology in a research note on Tuesday, June 24th. HC Wainwright reiterated a "buy" rating and issued a $11.00 price objective on shares of Sana Biotechnology in a report on Thursday, April 24th. Finally, Morgan Stanley began coverage on shares of Sana Biotechnology in a research report on Thursday, July 3rd. They set an "overweight" rating and a $12.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $9.17.

Sana Biotechnology Stock Down 3.0%

The business has a 50 day simple moving average of $3.42 and a 200 day simple moving average of $2.69. The company has a market capitalization of $931.68 million, a PE ratio of -4.70 and a beta of 1.90.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. Equities analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

Institutional investors have recently added to or reduced their stakes in the stock. Boxer Capital Management LLC acquired a new stake in shares of Sana Biotechnology in the fourth quarter valued at $2,518,000. Millennium Management LLC grew its stake in shares of Sana Biotechnology by 604.8% in the fourth quarter. Millennium Management LLC now owns 728,901 shares of the company's stock valued at $1,188,000 after buying an additional 625,481 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Sana Biotechnology by 44.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,557,496 shares of the company's stock valued at $2,538,000 after buying an additional 478,596 shares in the last quarter. Clearline Capital LP acquired a new position in Sana Biotechnology during the 1st quarter worth $690,000. Finally, Nuveen LLC acquired a new position in Sana Biotechnology during the 1st quarter worth $589,000. Hedge funds and other institutional investors own 88.23% of the company's stock.

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.