Sana Biotechnology (NASDAQ:SANA) Trading 8.9% Higher – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price traded up 8.9% during trading on Wednesday . The stock traded as high as $3.91 and last traded at $3.9540. Approximately 589,720 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 3,099,797 shares. The stock had previously closed at $3.63.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen downgraded Sana Biotechnology from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. Rodman & Renshaw started coverage on shares of Sana Biotechnology in a research report on Monday, May 11th. They issued a “buy” rating and a $16.00 target price on the stock. Bank of America lowered their target price on shares of Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sana Biotechnology has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Sana Biotechnology Stock Up 10.1%

The firm has a 50-day moving average price of $3.40 and a 200 day moving average price of $3.43. The firm has a market capitalization of $1.20 billion, a PE ratio of -5.26 and a beta of 2.16.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Equities research analysts expect that Sana Biotechnology, Inc. will post -0.61 earnings per share for the current year.

Institutional Trading of Sana Biotechnology

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Sana Biotechnology during the 2nd quarter worth approximately $58,196,000. Canada Pension Plan Investment Board purchased a new position in Sana Biotechnology in the 2nd quarter valued at approximately $35,662,000. Bank of America Corp DE purchased a new position in Sana Biotechnology in the 2nd quarter valued at approximately $20,062,000. Alphabet Inc. acquired a new position in shares of Sana Biotechnology in the second quarter worth $9,816,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Sana Biotechnology in the fourth quarter worth $6,834,000. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

About Sana Biotechnology

Sana Biotechnology is a clinical-stage biopharmaceutical company focused on the development of engineered cells as medicines with the goal of treating a broad range of diseases. The company applies advanced gene editing and gene delivery technologies to create next-generation cell therapy products for oncology, genetic disorders and other serious diseases. By leveraging both ex vivo and in vivo approaches, Sana aims to repair or replace damaged cells and restore healthy tissue function.

The company’s core platform integrates proprietary gene writing capabilities alongside established gene editing tools such as CRISPR–Cas9.