Sana Biotechnology (NASDAQ:SANA) Shares Up 9.8% – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA) shares were up 9.8% on Friday . The stock traded as high as $3.13 and last traded at $3.09. Approximately 918,829 shares were traded during trading, a decline of 92% from the average daily volume of 11,936,086 shares. The stock had previously closed at $2.81.

Analyst Ratings Changes

Several analysts have commented on SANA shares. HC Wainwright lifted their price objective on shares of Sana Biotechnology from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sana Biotechnology has an average rating of “Moderate Buy” and an average price target of $14.25.

Sana Biotechnology Price Performance

The stock has a market cap of $702.18 million, a PE ratio of -2.25 and a beta of 1.60. The firm’s 50 day moving average price is $2.65 and its two-hundred day moving average price is $3.65.

Insider Buying and Selling at Sana Biotechnology

In other news, insider Fmr Llc sold 290,912 shares of the stock in a transaction dated 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 sale, the insider now directly owns 4,541,511 shares of the company’s stock, valued at approximately $29,474,406.39. This represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 31.10% of the company’s stock.

Institutional Trading of Sana Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Sana Biotechnology by 126.6% in 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 during the period. SG Americas Securities LLC purchased a new position in Sana Biotechnology during the fourth quarter worth about $239,000. FMR LLC increased its stake in 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 acquiring an additional 4,438,949 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sana Biotechnology by 9.6% in the 3rd 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. Finally, Stifel Financial Corp bought a new stake in shares of Sana Biotechnology during the 3rd quarter valued at about $43,000. 88.23% of the stock is currently 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.