Sana Biotechnology (NASDAQ:SANA) Trading 9.8% Higher - Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares shot up 9.8% during trading on Friday . The company traded as high as $2.83 and last traded at $2.80. 608,151 shares changed hands during trading, a decline of 71% from the average session volume of 2,125,917 shares. The stock had previously closed at $2.55.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JMP Securities downgraded shares of Sana Biotechnology from an "outperform" rating to a "market perform" rating in a research note on Tuesday, November 5th. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of Sana Biotechnology in a report on Wednesday. Finally, Citigroup raised their price target on shares of Sana Biotechnology from $8.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, August 9th.

Sana Biotechnology Trading Up 9.0 %

The company's fifty day moving average price is $3.51 and its two-hundred day moving average price is $5.11. The firm has a market cap of $620.69 million, a P/E ratio of -1.99 and a beta of 1.44.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its quarterly earnings results 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. On average, analysts predict that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Insider Transactions at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of the business's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total value of $612,000.00. Following the completion of the transaction, the director now owns 2,848,121 shares of the company's stock, valued at $11,620,333.68. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.10% of the company's stock.

Institutional Trading of Sana Biotechnology

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in Sana Biotechnology during the 3rd quarter worth approximately $29,000. Stifel Financial Corp acquired a new position in shares of Sana Biotechnology in the 3rd quarter worth approximately $43,000. EP Wealth Advisors LLC acquired a new stake in Sana Biotechnology during the 3rd quarter worth about $45,000. Blue Trust Inc. lifted its stake in Sana Biotechnology by 1,246.6% in the third quarter. Blue Trust Inc. now owns 13,129 shares of the company's stock valued at $55,000 after buying an additional 12,154 shares during the period. Finally, Algert Global LLC acquired a new position in shares of Sana Biotechnology during the 2nd quarter valued at $73,000. 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.