Sana Biotechnology (NASDAQ:SANA) Shares Up 10.4% – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price traded up 10.4% during trading on Thursday . The company traded as high as $3.24 and last traded at $3.2250. Approximately 533,247 shares were traded during mid-day trading, a decline of 83% from the average session volume of 3,137,957 shares. The stock had previously closed at $2.92.

Analysts Set New Price Targets

Several research firms recently weighed in on SANA. Bank of America decreased their price target on Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Wall Street Zen lowered shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Sana Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. Finally, TD Cowen upgraded shares of Sana Biotechnology to a “strong-buy” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.33.

Sana Biotechnology Price Performance

The company’s 50 day simple moving average is $3.50 and its 200-day simple moving average is $3.36. The firm has a market cap of $928.02 million, a P/E ratio of -4.08 and a beta of 2.12.

Sana Biotechnology (NASDAQ:SANA) last released its earnings results on Monday, August 10th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Equities research analysts predict that Sana Biotechnology, Inc. will post -0.72 EPS for the current year.

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds have recently bought and sold shares of SANA. Sequoia Financial Advisors LLC purchased a new stake in Sana Biotechnology in the second quarter worth $54,000. WINTON GROUP Ltd purchased a new stake in shares of Sana Biotechnology during the second quarter valued at $99,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Sana Biotechnology in the second quarter worth about $359,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sana Biotechnology by 22.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 284,472 shares of the company’s stock worth $993,000 after purchasing an additional 52,766 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Sana Biotechnology by 55.1% in the second quarter. Hsbc Holdings PLC now owns 111,959 shares of the company’s stock worth $392,000 after purchasing an additional 39,765 shares during the last quarter. Institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

Sana Biotechnology, Inc is a clinical-stage biotechnology company focused on developing engineered cells and gene therapies for the treatment of serious diseases. The company’s approach is designed to create therapeutic cells that can be delivered to patients without requiring individualized manufacturing, potentially broadening access to cell-based medicines.

Sana is developing technologies intended to address key challenges in cell and gene therapy, including immune rejection, targeted delivery of genetic material and the production of engineered cells at scale.