Sana Biotechnology (NASDAQ:SANA) Shares Up 6.3% - Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s stock price shot up 6.3% during trading on Thursday . The company traded as high as $2.81 and last traded at $2.78. 943,825 shares traded hands during trading, a decline of 91% from the average session volume of 10,019,388 shares. The stock had previously closed at $2.61.

Analyst Ratings Changes

A number of research firms recently commented on SANA. TD Cowen raised shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 8th. JMP Securities cut shares of Sana Biotechnology from an "outperform" rating to a "market perform" rating in a research report on Tuesday, November 5th. Finally, HC Wainwright increased their target price on shares of Sana Biotechnology from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $14.00.

Sana Biotechnology Stock Performance

The firm has a market cap of $542.54 million, a price-to-earnings ratio of -1.74 and a beta of 1.60. The stock's 50 day simple moving average is $2.85 and its 200-day simple moving average is $3.43.

Insider Buying and Selling at Sana Biotechnology

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were 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 approximately $29,474,406.39. This represents a 6.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 31.10% of the stock is currently owned by company insiders.

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Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Sana Biotechnology by 10.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,282 shares of the company's stock worth $455,000 after acquiring an additional 25,383 shares during the period. Vident Advisory LLC increased its stake in shares of Sana Biotechnology by 42.3% in the fourth quarter. Vident Advisory LLC now owns 43,291 shares of the company's stock worth $71,000 after acquiring an additional 12,861 shares during the period. Squarepoint Ops LLC increased its stake in shares of Sana Biotechnology by 45.3% in the fourth quarter. Squarepoint Ops LLC now owns 178,431 shares of the company's stock worth $291,000 after acquiring an additional 55,625 shares during the period. Two Sigma Advisers LP increased its stake in shares of Sana Biotechnology by 677.0% in the fourth quarter. Two Sigma Advisers LP now owns 209,000 shares of the company's stock worth $341,000 after acquiring an additional 182,100 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Sana Biotechnology by 228.4% in the fourth quarter. Two Sigma Investments LP now owns 480,298 shares of the company's stock worth $783,000 after acquiring an additional 334,042 shares during the period. Institutional investors and hedge funds 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.