Sana Biotechnology (NASDAQ:SANA) Stock Jumps 3.1% – Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price shot up 3.1% during trading on Wednesday. The company traded as high as $2.83 and last traded at $2.8350. Approximately 691,439 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 3,195,875 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America reduced their price objective on shares of Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 14th. TD Cowen upgraded shares of Sana Biotechnology to a “strong-buy” rating in a report on Monday, August 24th. Wall Street Zen cut Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded Sana Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued 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 stock has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Sana Biotechnology Price Performance

The firm has a market capitalization of $835.21 million, a price-to-earnings ratio of -3.67 and a beta of 2.18. The firm has a 50 day moving average price of $3.41 and a 200-day moving average price of $3.31.

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

Hedge Funds Weigh In On Sana Biotechnology

Several large investors have recently bought and sold shares of SANA. BlackRock Inc. purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at about $58,196,000. Canada Pension Plan Investment Board acquired a new position in shares of Sana Biotechnology in the 2nd quarter valued at $35,662,000. Bank of America Corp DE purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at $20,062,000. Alphabet Inc. acquired a new stake in Sana Biotechnology during the 2nd quarter worth $9,816,000. Finally, Deutsche Bank AG purchased a new stake in Sana Biotechnology in the second quarter valued at $2,251,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

About Sana Biotechnology

Sana Biotechnology, Inc is a biotechnology company focused on developing engineered cell and gene therapies intended to treat diseases with significant unmet medical needs. The company’s approach is designed to enable the delivery of functional cells or genetic material to patients while addressing challenges such as immune rejection, manufacturing complexity and the need for repeated treatment.

Sana’s research programs include both ex vivo therapies, in which cells are modified outside the body before being administered to a patient, and in vivo therapies, which are designed to modify or deliver therapeutic material directly within the body.