Sana Biotechnology (NASDAQ:SANA) Trading 12.8% Higher – Here’s Why

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) were up 12.8% during mid-day trading on Wednesday . The company traded as high as $3.72 and last traded at $3.9610. Approximately 2,267,224 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 5,570,718 shares. The stock had previously closed at $3.51.

Analyst Ratings Changes

Several brokerages recently commented on SANA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sana Biotechnology in a report on Wednesday, October 8th. Wedbush increased their price objective on shares of Sana Biotechnology from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen lowered shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research report on Saturday. JMP Securities set a $8.00 target price on shares of Sana Biotechnology in a report on Thursday, October 30th. Finally, Citizens Jmp lifted their price target on shares of Sana Biotechnology from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Sana Biotechnology Stock Performance

The company has a market capitalization of $1.08 billion, a PE ratio of -4.20 and a beta of 1.94. The stock has a fifty day moving average of $4.21 and a 200 day moving average of $3.53.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. As a group, equities analysts predict that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Institutional Trading of Sana Biotechnology

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in shares of Sana Biotechnology by 673.8% during the second quarter. Nisa Investment Advisors LLC now owns 10,911 shares of the company’s stock valued at $30,000 after purchasing an additional 9,501 shares in the last quarter. Hoey Investments Inc. bought a new position in Sana Biotechnology during the second quarter valued at approximately $33,000. Mercer Global Advisors Inc. ADV purchased a new position in Sana Biotechnology during the 3rd quarter valued at approximately $36,000. TD Waterhouse Canada Inc. bought a new stake in Sana Biotechnology in the 3rd quarter worth approximately $37,000. Finally, Lyell Wealth Management LP bought a new stake in Sana Biotechnology in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

About Sana Biotechnology

Sana Biotechnology, Inc, a biotechnology company, focuses on utilizing engineered cells as medicines. It develops ex vivo and in vivo cell engineering platforms for various therapeutic areas with unmet treatment needs, including oncology, diabetes, central nervous system disorders, B-cell-mediated autoimmune, and others.