Sana Biotechnology (NASDAQ:SANA) Trading Up 8.8% - What's Next?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares traded up 8.8% on Thursday . The stock traded as high as $3.52 and last traded at $3.54. 4,088,385 shares were traded during mid-day trading, a decline of 76% from the average session volume of 17,211,809 shares. The stock had previously closed at $3.25.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. HC Wainwright lifted their price objective on Sana Biotechnology from $8.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. TD Cowen raised Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, JMP Securities downgraded Sana Biotechnology from an "outperform" rating to a "market perform" rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.25.

Sana Biotechnology Stock Down 5.0 %

The company has a market cap of $683.21 million, a P/E ratio of -2.19 and a beta of 1.59. The business's 50 day moving average is $2.58 and its 200 day moving average is $3.79.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. As a group, equities research analysts forecast that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Insider Activity at Sana Biotechnology

In other 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 transaction, the insider now directly owns 4,541,511 shares of the company's stock, valued at $29,474,406.39. The trade was a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 31.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in Sana Biotechnology during the third quarter worth approximately $29,000. Stifel Financial Corp acquired a new position in Sana Biotechnology during the 3rd quarter worth $43,000. EP Wealth Advisors LLC bought a new position in Sana Biotechnology during the third quarter valued at about $45,000. Blue Trust Inc. lifted its position in shares of Sana Biotechnology by 1,246.6% during the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company's stock valued at $55,000 after acquiring an additional 12,154 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Sana Biotechnology during the second quarter valued at approximately $73,000. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.