Sana Biotechnology (NASDAQ:SANA) Stock Price Up 9.8% – Should You Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price shot up 9.8% on Friday . The stock traded as high as $3.13 and last traded at $3.09. 918,829 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 11,936,086 shares. The stock had previously closed at $2.81.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SANA shares. HC Wainwright boosted their target price on Sana Biotechnology from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, JMP Securities lowered Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Sana Biotechnology Trading Up 11.9 %

The firm has a market capitalization of $702.18 million, a P/E ratio of -2.25 and a beta of 1.60. The business’s 50 day simple moving average is $2.65 and its two-hundred day simple moving average is $3.65.

Insider Activity at Sana Biotechnology

In related news, insider Fmr Llc sold 290,912 shares of the 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 in the company, valued at $29,474,406.39. This represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds have recently added to or reduced their stakes in SANA. Cerity Partners LLC bought a new stake in shares of Sana Biotechnology in the fourth quarter worth $25,000. Tower Research Capital LLC TRC grew its stake in shares of Sana Biotechnology by 229.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company’s stock valued at $25,000 after purchasing an additional 10,548 shares during the period. Syon Capital LLC bought a new position in shares of Sana Biotechnology in the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Sana Biotechnology in the third quarter worth approximately $29,000. Finally, Blue Trust Inc. boosted its holdings in shares of Sana Biotechnology by 51.0% in the fourth quarter. Blue Trust Inc. now owns 19,823 shares of the company’s stock worth $32,000 after buying an additional 6,694 shares during the last quarter. 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.