Sana Biotechnology (NASDAQ:SANA) Sees Unusually-High Trading Volume on Strong Earnings

Sana Biotechnology, Inc. (NASDAQ:SANA) saw an uptick in trading volume on Tuesday following a stronger than expected earnings report. 3,390,446 shares changed hands during trading, an increase of 14% from the previous session’s volume of 2,985,230 shares.The stock last traded at $2.27 and had previously closed at $2.77.

The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02.

Analysts Set New Price Targets

SANA has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of Sana Biotechnology in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of Sana Biotechnology in a research report on Friday. They set a “buy” rating and a $7.00 price target for the company. Citizens Jmp raised shares of Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a report on Tuesday. Finally, TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Sana Biotechnology presently has a consensus rating of “Moderate Buy” and an average price target of $10.80.

Insider Activity

In related news, insider Fmr Llc sold 290,912 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the completion of the sale, the insider now owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Sana Biotechnology in the third quarter worth $29,000. Stifel Financial Corp bought a new stake in Sana Biotechnology in the 3rd quarter valued at $43,000. EP Wealth Advisors LLC purchased a new stake in Sana Biotechnology in the 3rd quarter worth $45,000. Tower Research Capital LLC TRC boosted its holdings 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 last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Sana Biotechnology during the fourth quarter valued at about $25,000. 88.23% of the stock is currently owned by institutional investors.

Sana Biotechnology Stock Down 18.6 %

The stock has a market capitalization of $503.25 million, a P/E ratio of -1.59 and a beta of 1.63. The company has a fifty day moving average price of $3.05 and a 200-day moving average price of $3.23.

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.