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

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price traded up 6.3% during trading on Thursday . The company traded as high as $2.81 and last traded at $2.78. 943,825 shares changed 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 analysts have recently weighed in on the stock. JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, HC Wainwright boosted their price target on shares of Sana Biotechnology from $8.00 to $11.00 and gave the stock 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 company’s stock. Based on data from MarketBeat, Sana Biotechnology currently has an average rating of “Moderate Buy” and an average price target of $14.25.

Sana Biotechnology Trading Up 0.8 %

The firm’s 50-day moving average price is $2.83 and its two-hundred day moving average price is $3.47. The stock has a market cap of $582.73 million, a PE ratio of -1.86 and a beta of 1.59.

Insiders Place Their Bets

In other Sana Biotechnology 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 31.10% of the company’s stock.

Institutional Trading of Sana Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC acquired a new position in Sana Biotechnology in the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC raised its stake in shares of Sana Biotechnology by 229.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company’s stock valued at $25,000 after acquiring an additional 10,548 shares during the period. Syon Capital LLC purchased a new stake in shares of Sana Biotechnology in the 4th quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sana Biotechnology in the 3rd quarter valued at approximately $29,000. Finally, Ameriprise Financial Inc. purchased a new stake in Sana Biotechnology during the 4th quarter worth approximately $29,000. Hedge funds and other 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.