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

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

Wall Street Analyst Weigh In

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

Sana Biotechnology Stock Performance

The company has a market cap of $821.74 million, a PE ratio of -3.61 and a beta of 2.18. The stock has a 50 day moving average of $3.42 and a 200-day moving average of $3.32.

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

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Sana Biotechnology during the 2nd quarter worth approximately $58,196,000. Canada Pension Plan Investment Board purchased a new stake in shares of Sana Biotechnology in the 2nd quarter valued at $35,662,000. Bank of America Corp DE acquired a new stake in shares of Sana Biotechnology in the second quarter worth $20,062,000. Alphabet Inc. purchased a new position in shares of Sana Biotechnology during the second quarter worth $9,816,000. Finally, Deutsche Bank AG purchased a new position in shares of Sana Biotechnology during the second quarter worth $2,251,000. Institutional investors and hedge funds 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.