Sana Biotechnology (NASDAQ:SANA) Trading Up 8.8% – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA) shares traded up 8.8% during mid-day trading on Thursday . The stock traded as high as $3.52 and last traded at $3.54. 4,088,385 shares traded hands 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

A number of equities analysts recently weighed in on SANA shares. HC Wainwright lifted their price target on Sana Biotechnology from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a 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. According to data from MarketBeat.com, Sana Biotechnology has an average rating of “Moderate Buy” and an average price target of $14.25.

Sana Biotechnology Trading Up 7.4 %

The company has a market cap of $779.21 million, a P/E ratio of -2.49 and a beta of 1.45. The business has a 50 day moving average price of $2.54 and a 200-day moving average price of $3.87.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01. On average, sell-side analysts expect that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Insider Buying and Selling

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the company’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 sale, the insider now owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 31.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Sana Biotechnology in the 3rd quarter worth $29,000. Stifel Financial Corp bought a new position in shares of Sana Biotechnology during the 3rd quarter valued at approximately $43,000. EP Wealth Advisors LLC bought a new stake in shares of Sana Biotechnology in the third quarter valued at $45,000. Blue Trust Inc. lifted its holdings in Sana Biotechnology by 1,246.6% during the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after purchasing an additional 12,154 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Sana Biotechnology during the 2nd quarter valued at $73,000. Institutional investors own 88.23% of the company’s stock.

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.