Sana Biotechnology (NASDAQ:SANA) Trading Up 9.7% – Here’s What Happened

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) shot up 9.7% on Tuesday . The company traded as high as $2.79 and last traded at $2.77. 1,703,763 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 2,954,771 shares. The stock had previously closed at $2.52.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SANA. HC Wainwright increased their price objective 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. TD Cowen upgraded Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sana Biotechnology currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Sana Biotechnology Price Performance

The stock has a market capitalization of $591.66 million, a PE ratio of -1.89 and a beta of 1.63. The stock’s fifty day moving average is $3.00 and its 200-day moving average is $3.31.

Insiders Place Their Bets

In other news, insider Fmr Llc sold 290,912 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the transaction, the insider now 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 filing with the SEC, which is available at the SEC website. Insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sana Biotechnology by 10.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,282 shares of the company’s stock valued at $455,000 after acquiring an additional 25,383 shares in the last quarter. Vident Advisory LLC raised its position in shares of Sana Biotechnology by 42.3% during the 4th quarter. Vident Advisory LLC now owns 43,291 shares of the company’s stock valued at $71,000 after buying an additional 12,861 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Sana Biotechnology by 45.3% in the 4th quarter. Squarepoint Ops LLC now owns 178,431 shares of the company’s stock valued at $291,000 after purchasing an additional 55,625 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Sana Biotechnology by 677.0% during the fourth quarter. Two Sigma Advisers LP now owns 209,000 shares of the company’s stock valued at $341,000 after acquiring an additional 182,100 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Sana Biotechnology by 228.4% during the fourth quarter. Two Sigma Investments LP now owns 480,298 shares of the company’s stock worth $783,000 after purchasing an additional 334,042 shares in the last quarter. 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.