Sana Biotechnology (NASDAQ:SANA) Sees Large Volume Increase After Strong Earnings

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) saw unusually-high trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 3,390,446 shares traded hands during mid-day trading, an increase of 14% from the previous session's volume of 2,985,230 shares.The stock last traded at $2.27 and had previously closed at $2.77.

The company reported ($0.23) earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.02.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SANA. Citizens Jmp upgraded Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research note on Tuesday. TD Cowen raised shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a report on Wednesday, January 8th. Jefferies Financial Group initiated coverage on shares of Sana Biotechnology in a research note on Friday, March 14th. They issued a "buy" rating and a $7.00 target price on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $11.00 target price on shares of Sana Biotechnology in a research note on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sana Biotechnology presently has an average rating of "Moderate Buy" and an average target price of $10.80.

Insider Transactions at Sana Biotechnology

In related news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total value of $1,888,018.88. Following the sale, the insider now owns 4,541,511 shares in the company, valued at $29,474,406.39. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 31.10% of the company's stock.

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Institutional Trading of Sana Biotechnology

Large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in Sana Biotechnology in the third quarter valued at $29,000. Stifel Financial Corp purchased a new position in Sana Biotechnology during the third quarter valued at $43,000. EP Wealth Advisors LLC purchased a new position in Sana Biotechnology during the third quarter valued at $45,000. Tower Research Capital LLC TRC lifted its position in Sana Biotechnology by 229.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock valued at $25,000 after buying an additional 10,548 shares during the period. Finally, Cerity Partners LLC purchased a new position in Sana Biotechnology during the fourth quarter valued at $25,000. Institutional investors own 88.23% of the company's stock.

Sana Biotechnology Price Performance

The firm has a market cap of $519.81 million, a PE ratio of -1.65 and a beta of 1.63. The firm has a 50-day simple moving average of $2.95 and a 200 day simple moving average of $3.15.

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.