Sana Biotechnology (NASDAQ:SANA) Shares Up 9.6%

Sana Biotechnology, Inc. (NASDAQ:SANA) was up 9.6% during mid-day trading on Thursday . The stock traded as high as $4.71 and last traded at $4.70. Approximately 367,844 shares traded hands during trading, a decline of 84% from the average daily volume of 2,305,410 shares. The stock had previously closed at $4.29.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Citigroup increased their target price on Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Rodman & Renshaw started coverage on Sana Biotechnology in a report on Wednesday, June 26th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, HC Wainwright decreased their target price on Sana Biotechnology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Sana Biotechnology Stock Performance

The company’s fifty day moving average is $5.39 and its two-hundred day moving average is $7.06. The firm has a market cap of $941.39 million, a price-to-earnings ratio of -2.78 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). As a group, analysts forecast that Sana Biotechnology, Inc. will post -1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Algert Global LLC purchased a new stake in shares of Sana Biotechnology during the second quarter worth about $73,000. The Manufacturers Life Insurance Company raised its holdings in Sana Biotechnology by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 312,031 shares of the company’s stock valued at $1,704,000 after acquiring an additional 23,157 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in Sana Biotechnology by 112.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock valued at $149,000 after acquiring an additional 14,430 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Sana Biotechnology by 318.8% during the 2nd quarter. Squarepoint Ops LLC now owns 126,572 shares of the company’s stock valued at $691,000 after acquiring an additional 96,348 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its holdings in Sana Biotechnology by 22.4% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company’s stock worth $6,552,000 after acquiring an additional 220,000 shares in the last quarter. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

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.