Sana Biotechnology (NASDAQ:SANA) Shares Up 8.8% – Time to Buy?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) shot up 8.8% during mid-day trading on Thursday . The company traded as high as $3.52 and last traded at $3.54. 4,088,385 shares changed 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 research analysts have recently commented on the company. TD Cowen upgraded Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. JMP Securities lowered shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, HC Wainwright boosted their price target on Sana Biotechnology from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Sana Biotechnology Stock Performance

The stock has a market capitalization of $779.21 million, a P/E ratio of -2.49 and a beta of 1.45. The firm’s fifty day simple moving average is $2.54 and its 200 day simple moving average is $3.87.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01. Analysts anticipate that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Sana Biotechnology

In other news, insider Fmr Llc sold 290,912 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 4,541,511 shares in the company, valued at $29,474,406.39. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 31.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sana Biotechnology

Several large investors have recently modified their holdings of SANA. Blue Trust Inc. boosted its holdings in Sana Biotechnology by 203.4% in the fourth quarter. Blue Trust Inc. now owns 39,827 shares of the company’s stock worth $65,000 after acquiring an additional 26,698 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Sana Biotechnology by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 47,341 shares of the company’s stock worth $77,000 after purchasing an additional 4,554 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Sana Biotechnology in the 4th quarter valued at $239,000. Clarius Group LLC lifted its stake in Sana Biotechnology by 78.1% in the 4th quarter. Clarius Group LLC now owns 112,500 shares of the company’s stock valued at $183,000 after buying an additional 49,316 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Sana Biotechnology in the third quarter valued at approximately $29,000. 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.