Sana Biotechnology (NASDAQ:SANA) Trading Up 7.8% – Here’s What Happened
by Sarita Garza · The Markets DailySana Biotechnology, Inc. (NASDAQ:SANA – Get Free Report)’s stock price shot up 7.8% during trading on Friday . The stock traded as high as $3.30 and last traded at $3.3310. 939,320 shares were traded during trading, a decline of 60% from the average session volume of 2,337,721 shares. The stock had previously closed at $3.09.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SANA. HC Wainwright dropped their price objective on shares of Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sana Biotechnology in a research report on Monday, December 29th. Wall Street Zen downgraded Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Bank of America raised their price objective on Sana Biotechnology from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Zacks Research downgraded Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.83.
Get Our Latest Report on Sana Biotechnology
Sana Biotechnology Stock Up 6.3%
The company has a market capitalization of $876.67 million, a price-to-earnings ratio of -3.40 and a beta of 1.96. The business’s 50-day moving average is $4.18 and its 200-day moving average is $4.13.
Sana Biotechnology (NASDAQ:SANA – Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Marex Group plc acquired a new position in Sana Biotechnology in the second quarter valued at approximately $10,423,000. Balyasny Asset Management L.P. acquired a new stake in shares of Sana Biotechnology during the 4th quarter worth approximately $6,834,000. Vanguard Group Inc. increased its holdings in shares of Sana Biotechnology by 19.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,128,973 shares of the company’s stock valued at $32,408,000 after purchasing an additional 1,517,474 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Sana Biotechnology by 180.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,135,444 shares of the company’s stock valued at $7,581,000 after purchasing an additional 1,375,029 shares during the period. Finally, State Street Corp lifted its stake in shares of Sana Biotechnology by 20.6% in the 4th quarter. State Street Corp now owns 8,054,841 shares of the company’s stock valued at $32,783,000 after purchasing an additional 1,374,300 shares during the period. 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.