Sana Biotechnology (NASDAQ:SANA) Stock Price Up 13.9% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA) was up 13.9% during trading on Wednesday . The stock traded as high as $3.19 and last traded at $3.33. Approximately 1,462,380 shares were traded during trading, a decline of 93% from the average daily volume of 21,905,322 shares. The stock had previously closed at $2.92.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, HC Wainwright increased their price objective on Sana Biotechnology from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sana Biotechnology presently has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Sana Biotechnology Stock Performance

The stock’s 50-day moving average is $2.46 and its two-hundred day moving average is $3.94. The stock has a market cap of $754.65 million, a PE ratio of -2.41 and a beta of 1.45.

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

Insiders Place Their Bets

In related news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction that occurred 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 transaction, the insider now owns 4,541,511 shares in the company, valued at $29,474,406.39. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sana Biotechnology

Several institutional investors have recently modified their holdings of SANA. FMR LLC boosted 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 in the last quarter. State Street Corp lifted its position in Sana Biotechnology by 4.2% in the third quarter. State Street Corp now owns 6,627,320 shares of the company’s stock valued at $27,570,000 after acquiring an additional 269,274 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sana Biotechnology by 9.6% in the third quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company’s stock valued at $13,175,000 after acquiring an additional 276,055 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sana Biotechnology by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,047,846 shares of the company’s stock worth $4,359,000 after purchasing an additional 105,382 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Sana Biotechnology by 126.6% during the third quarter. Barclays PLC now owns 318,910 shares of the company’s stock worth $1,325,000 after purchasing an additional 178,179 shares in the last quarter. 88.23% of the stock is owned by hedge funds and other institutional investors.

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.