Sana Biotechnology (NASDAQ:SANA) Trading Up 12.2% – Should You Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA) was up 12.2% on Monday . The company traded as high as $2.59 and last traded at $2.58. Approximately 627,046 shares traded hands during trading, a decline of 70% from the average daily volume of 2,119,753 shares. The stock had previously closed at $2.30.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SANA shares. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Sana Biotechnology in a report on Wednesday, November 27th. JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th.

Sana Biotechnology Stock Up 15.2 %

The stock has a fifty day moving average of $3.35 and a 200-day moving average of $4.87. The stock has a market cap of $591.67 million, a PE ratio of -1.84 and a beta of 1.33.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. Equities research analysts forecast that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard Mulligan sold 150,000 shares of Sana Biotechnology stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total transaction of $612,000.00. Following the completion of the transaction, the director now directly owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Sana Biotechnology

Institutional investors have recently made changes to their positions in the stock. FMR LLC grew its position in shares of Sana Biotechnology by 16.3% in the third quarter. FMR LLC now owns 31,609,175 shares of the company’s stock valued at $131,494,000 after purchasing an additional 4,438,949 shares during the period. Integral Health Asset Management LLC grew its position in shares of Sana Biotechnology by 22.4% in the second quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company’s stock valued at $6,552,000 after purchasing an additional 220,000 shares during the period. Algert Global LLC purchased a new stake in shares of Sana Biotechnology in the second quarter valued at $73,000. XTX Topco Ltd purchased a new stake in shares of Sana Biotechnology in the second quarter valued at $100,000. Finally, Bank of New York Mellon Corp grew its position in shares of Sana Biotechnology by 26.5% in the second quarter. Bank of New York Mellon Corp now owns 431,744 shares of the company’s stock valued at $2,357,000 after purchasing an additional 90,423 shares during the period. 88.23% of the stock is owned by institutional investors and hedge funds.

Sana Biotechnology Company Profile

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.