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

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price rose 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.

Analysts Set New Price Targets

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

Sana Biotechnology Trading Up 12.5 %

The business has a 50-day moving average of $2.66 and a 200-day moving average of $3.61.

Insider Activity

In other news, insider Fmr Llc sold 290,912 shares of the stock in a transaction 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 31.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sana Biotechnology

Institutional investors and hedge funds have recently modified their holdings of the business. Boxer Capital Management LLC acquired a new position in Sana Biotechnology during the fourth quarter worth $2,518,000. Jane Street Group LLC increased its holdings in shares of Sana Biotechnology by 287.2% during the 4th quarter. Jane Street Group LLC now owns 367,855 shares of the company’s stock valued at $600,000 after acquiring an additional 272,862 shares during the last quarter. Northern Trust Corp raised its stake in shares of Sana Biotechnology by 5.3% in the 4th quarter. Northern Trust Corp now owns 1,188,346 shares of the company’s stock valued at $1,937,000 after acquiring an additional 60,004 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Sana Biotechnology in the 4th quarter worth approximately $182,000. Finally, Virtus ETF Advisers LLC lifted its holdings in Sana Biotechnology by 170.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 34,849 shares of the company’s stock worth $57,000 after purchasing an additional 21,959 shares during the last quarter. Institutional investors and hedge funds 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.