Sana Biotechnology (NASDAQ:SANA) Shares Up 8.8% – Should You Buy?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) rose 8.8% during trading on Thursday . The company traded as high as $3.52 and last traded at $3.54. Approximately 4,088,385 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 17,211,809 shares. The stock had previously closed at $3.25.

Wall Street Analysts Forecast Growth

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

Sana Biotechnology Trading Down 7.7 %

The firm’s 50-day moving average price is $2.57 and its 200 day moving average price is $3.85. The company has a market cap of $718.93 million, a price-to-earnings ratio of -2.30 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly 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 earnings per share for the current fiscal year.

Insider Buying and Selling at Sana Biotechnology

In other Sana Biotechnology 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 transaction of $1,888,018.88. Following the transaction, the insider now owns 4,541,511 shares of the company’s stock, valued at $29,474,406.39. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Sana Biotechnology

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC increased its position in shares of Sana Biotechnology by 318.8% during the 2nd quarter. Squarepoint Ops LLC now owns 126,572 shares of the company’s stock valued at $691,000 after purchasing an additional 96,348 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Sana Biotechnology by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 312,031 shares of the company’s stock valued at $1,704,000 after acquiring an additional 23,157 shares during the last quarter. Algert Global LLC bought a new position in shares of Sana Biotechnology during the 2nd quarter valued at approximately $73,000. Blue Trust Inc. grew its position in shares of Sana Biotechnology by 1,246.6% during the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after acquiring an additional 12,154 shares during the period. Finally, Bristlecone Advisors LLC bought a new stake in shares of Sana Biotechnology in the 3rd quarter worth approximately $208,000. 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.