Sana Biotechnology (NASDAQ:SANA) Trading Up 6.3% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA) shares traded up 6.3% during trading on Thursday . The stock traded as high as $2.81 and last traded at $2.78. 943,825 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 10,019,388 shares. The stock had previously closed at $2.61.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SANA. TD Cowen upgraded Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, HC Wainwright lifted their price objective 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sana Biotechnology presently has a consensus rating of “Moderate Buy” and an average target price of $14.25.

Sana Biotechnology Stock Up 0.8 %

The company has a market capitalization of $582.73 million, a price-to-earnings ratio of -1.86 and a beta of 1.59. The firm has a 50 day moving average price of $2.83 and a two-hundred day moving average price of $3.47.

Insiders Place Their Bets

In related news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total value of $1,888,018.88. Following the completion of the sale, the insider now owns 4,541,511 shares of the company’s stock, valued at approximately $29,474,406.39. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SANA. Cerity Partners LLC bought a new stake in Sana Biotechnology in the fourth quarter valued at about $25,000. Tower Research Capital LLC TRC lifted its holdings in Sana Biotechnology by 229.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company’s stock valued at $25,000 after buying an additional 10,548 shares during the period. Syon Capital LLC acquired a new position in Sana Biotechnology in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB acquired a new stake in Sana Biotechnology in the third quarter worth $29,000. Finally, Ameriprise Financial Inc. acquired a new stake in Sana Biotechnology in the fourth quarter worth $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.