Sana Biotechnology (NASDAQ:SANA) Stock Price Up 9.8% - Should You Buy?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shot up 9.8% during trading on Friday . The stock traded as high as $3.13 and last traded at $3.09. 918,829 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 11,936,086 shares. The stock had previously closed at $2.81.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SANA. HC Wainwright raised their price target on shares of Sana Biotechnology from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. TD Cowen upgraded shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, JMP Securities lowered shares of Sana Biotechnology from an "outperform" rating to a "market perform" rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sana Biotechnology currently has a consensus rating of "Moderate Buy" and an average target price of $14.25.

Sana Biotechnology Stock Down 4.4 %

The stock has a market capitalization of $674.28 million, a price-to-earnings ratio of -2.16 and a beta of 1.60. The company has a 50 day simple moving average of $2.68 and a 200-day simple moving average of $3.56.

Insider Activity at Sana Biotechnology

In other news, insider Fmr Llc sold 290,912 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total value of $1,888,018.88. Following the completion of the sale, the insider now directly owns 4,541,511 shares in the company, valued at $29,474,406.39. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 31.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in shares of Sana Biotechnology by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 47,341 shares of the company's stock worth $77,000 after purchasing an additional 4,554 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sana Biotechnology by 17.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,196 shares of the company's stock valued at $146,000 after purchasing an additional 5,338 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Sana Biotechnology by 20.3% during the fourth quarter. Teacher Retirement System of Texas now owns 36,797 shares of the company's stock worth $60,000 after buying an additional 6,209 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Sana Biotechnology by 2.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 280,731 shares of the company's stock worth $457,000 after buying an additional 6,613 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Sana Biotechnology by 51.0% in the fourth quarter. Blue Trust Inc. now owns 19,823 shares of the company's stock valued at $32,000 after buying an additional 6,694 shares in the last quarter. 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.