Sana Biotechnology (NASDAQ:SANA) Trading 13.9% Higher - Here's Why

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price traded up 13.9% on Wednesday . The stock traded as high as $3.19 and last traded at $3.33. 1,462,380 shares were traded during trading, a decline of 93% from the average session volume of 21,905,322 shares. The stock had previously closed at $2.92.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JMP Securities downgraded Sana Biotechnology from an "outperform" rating to a "market perform" rating in a research report on Tuesday, November 5th. 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 research note on Wednesday, January 8th. Finally, TD Cowen raised shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.25.

Sana Biotechnology Stock Up 17.6 %

The stock has a market capitalization of $766.93 million, a PE ratio of -2.46 and a beta of 1.45. The business's fifty day moving average is $2.43 and its 200-day moving average is $3.95.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01. As a group, sell-side analysts anticipate that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 31.10% of the company's stock.

Institutional Investors Weigh In On Sana Biotechnology

Several hedge funds have recently modified their holdings of SANA. Wilmington Savings Fund Society FSB acquired a new position in shares of Sana Biotechnology during the third quarter worth $29,000. Stifel Financial Corp purchased a new position in Sana Biotechnology in the 3rd quarter valued at about $43,000. EP Wealth Advisors LLC acquired a new stake in shares of Sana Biotechnology during the third quarter valued at about $45,000. Blue Trust Inc. increased its position in shares of Sana Biotechnology by 1,246.6% during 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 last quarter. Finally, Algert Global LLC acquired a new position in shares of Sana Biotechnology in the second quarter worth about $73,000. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

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.

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