Sana Biotechnology (NASDAQ:SANA) Stock Price Up 9.7% – Time to Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price shot up 9.7% during trading on Tuesday . The stock traded as high as $2.79 and last traded at $2.77. 1,703,763 shares traded hands during trading, a decline of 42% from the average session volume of 2,954,771 shares. The stock had previously closed at $2.52.

Wall Street Analyst Weigh In

Several research firms have issued reports on SANA. TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. 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 report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Sana Biotechnology Price Performance

The firm has a market capitalization of $613.99 million, a PE ratio of -1.96 and a beta of 1.63. The business’s 50 day moving average is $2.93 and its two-hundred day moving average is $3.34.

Insider Activity

In other news, insider Fmr Llc sold 290,912 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total value of $1,888,018.88. Following the completion of the transaction, the insider now directly owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 31.10% of the company’s stock.

Institutional Trading of Sana Biotechnology

A number of hedge funds have recently bought and sold shares of SANA. Cornercap Investment Counsel Inc. purchased a new position in shares of Sana Biotechnology during the third quarter worth approximately $67,000. Intech Investment Management LLC bought a new position in shares of Sana Biotechnology during the 3rd quarter valued at $240,000. Charles Schwab Investment Management Inc. raised its position in Sana Biotechnology by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,047,846 shares of the company’s stock worth $4,359,000 after purchasing an additional 105,382 shares during the period. FMR LLC raised its position 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 purchasing an additional 4,438,949 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sana Biotechnology by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,196 shares of the company’s stock valued at $146,000 after buying an additional 5,338 shares during the period. Institutional investors 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.