Sana Biotechnology (NASDAQ:SANA) Stock Price Up 6.3% – What’s Next?

Sana Biotechnology, Inc. (NASDAQ:SANA) shares traded up 6.3% during mid-day trading on Thursday . The stock traded as high as $2.81 and last traded at $2.78. 943,825 shares were traded during 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 Analyst Weigh In

SANA has been the subject of several research reports. HC Wainwright lifted their price objective on shares of Sana Biotechnology from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, JMP Securities lowered shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sana Biotechnology presently has an average rating of “Moderate Buy” and a consensus price target of $14.25.

Sana Biotechnology Trading Down 0.8 %

The firm’s fifty day moving average price is $2.79 and its 200-day moving average price is $3.49. The firm has a market cap of $578.27 million, a price-to-earnings ratio of -1.85 and a beta of 1.59.

Insider Activity

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

Hedge funds have recently made changes to their positions in 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 worth $131,494,000 after purchasing an additional 4,438,949 shares during the period. State Street Corp lifted its holdings in Sana Biotechnology by 4.2% in the third 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 last quarter. Geode Capital Management LLC grew its position in shares of Sana Biotechnology by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 3,193,081 shares of the company’s stock worth $5,206,000 after acquiring an additional 26,601 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Sana Biotechnology by 7.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,108,617 shares of the company’s stock valued at $5,068,000 after acquiring an additional 219,498 shares during the period. Finally, Integral Health Asset Management LLC increased its stake in Sana Biotechnology by 11.1% during the 4th quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company’s stock valued at $3,260,000 after buying an additional 200,000 shares during the period. Institutional investors and hedge funds 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.