Sana Biotechnology (NASDAQ:SANA) Stock Price Up 7.2% – Here’s What Happened

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) rose 7.2% during mid-day trading on Wednesday . The company traded as high as $2.53 and last traded at $2.53. Approximately 905,433 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 2,142,431 shares. The stock had previously closed at $2.36.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SANA shares. Citigroup raised their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Sana Biotechnology in a report on Monday, November 11th. Finally, JMP Securities lowered Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Sana Biotechnology Trading Up 11.1 %

The firm’s fifty day moving average is $3.72 and its 200 day moving average is $5.39. The company has a market cap of $582.73 million, a PE ratio of -1.79 and a beta of 1.44.

Sana Biotechnology (NASDAQ:SANA) last announced its earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates 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 Activity

In related news, Director Richard Mulligan sold 150,000 shares of the stock in a transaction that occurred on 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 directly owns 2,848,121 shares in the company, valued at approximately $11,620,333.68. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Sana Biotechnology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Sana Biotechnology by 16.3% in the 3rd quarter. FMR LLC now owns 31,609,175 shares of the company’s stock valued at $131,494,000 after buying an additional 4,438,949 shares during the period. Vanguard Group Inc. increased its stake in Sana Biotechnology by 24.1% during the first quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company’s stock worth $121,552,000 after purchasing an additional 2,358,089 shares during the period. State Street Corp lifted its position in shares of Sana Biotechnology by 4.2% during the third quarter. State Street Corp now owns 6,627,320 shares of the company’s stock worth $27,570,000 after purchasing an additional 269,274 shares in the last quarter. Capital World Investors boosted its stake in shares of Sana Biotechnology by 255.8% in the first quarter. Capital World Investors now owns 5,449,035 shares of the company’s stock valued at $54,490,000 after purchasing an additional 3,917,728 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Sana Biotechnology by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,695,459 shares of the company’s stock valued at $36,956,000 after purchasing an additional 101,434 shares in the last quarter. 88.23% of the stock is owned by institutional investors and hedge funds.

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.