Sana Biotechnology (NASDAQ:SANA) Shares Up 7.7% - Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares traded up 7.7% during trading on Monday . The stock traded as high as $4.07 and last traded at $4.05. 165,429 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,168,752 shares. The stock had previously closed at $3.76.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SANA shares. HC Wainwright reduced their target price on Sana Biotechnology from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Citigroup upped their price target on Sana Biotechnology from $8.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, August 9th.

Sana Biotechnology Stock Up 4.3 %

The firm has a market capitalization of $872.08 million, a P/E ratio of -3.41 and a beta of 1.42. The company has a fifty day simple moving average of $4.61 and a 200 day simple moving average of $6.07.

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

Insider Activity at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total value of $612,000.00. Following the transaction, the director now directly owns 2,848,121 shares of the company's stock, valued at approximately $11,620,333.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 31.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of Sana Biotechnology by 1,246.6% in the third quarter. Blue Trust Inc. now owns 13,129 shares of the company's stock worth $55,000 after acquiring an additional 12,154 shares during the period. Algert Global LLC bought a new stake in Sana Biotechnology in the 2nd quarter worth approximately $73,000. XTX Topco Ltd purchased a new stake in Sana Biotechnology during the 2nd quarter valued at $100,000. Hartline Investment Corp bought a new position in shares of Sana Biotechnology during the 1st quarter valued at $136,000. Finally, Dark Forest Capital Management LP boosted its stake in shares of Sana Biotechnology by 112.0% in the 2nd quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company's stock worth $149,000 after buying an additional 14,430 shares during the last quarter. 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.