Sana Biotechnology (NASDAQ:SANA) Trading 9.8% Higher – Should You Buy?

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

Analysts Set New Price Targets

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

Sana Biotechnology Stock Performance

The business’s 50 day moving average is $3.58 and its 200 day moving average is $5.19. The stock has a market cap of $620.69 million, a price-to-earnings ratio of -1.93 and a beta of 1.44.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. Research analysts expect that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Insider Buying and Selling at Sana Biotechnology

In other news, Director Richard Mulligan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total transaction of $612,000.00. Following the transaction, the director now owns 2,848,121 shares in the company, valued at approximately $11,620,333.68. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

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% during the 3rd quarter. FMR LLC now owns 31,609,175 shares of the company’s stock valued at $131,494,000 after purchasing an additional 4,438,949 shares in the last quarter. Vanguard Group Inc. raised its holdings in Sana Biotechnology by 24.1% in the 1st quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company’s stock worth $121,552,000 after acquiring an additional 2,358,089 shares during the period. State Street Corp raised its holdings in Sana Biotechnology by 4.2% in the 3rd quarter. State Street Corp now owns 6,627,320 shares of the company’s stock worth $27,570,000 after acquiring an additional 269,274 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Sana Biotechnology by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,695,459 shares of the company’s stock worth $36,956,000 after acquiring an additional 101,434 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Sana Biotechnology by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company’s stock worth $13,175,000 after acquiring an additional 276,055 shares during the period. Institutional investors 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.