Sana Biotechnology (NASDAQ:SANA) Trading 9.8% Higher – Should You Buy?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) traded up 9.8% during trading on Friday . The company traded as high as $2.83 and last traded at $2.80. 608,151 shares changed hands during trading, a decline of 71% from the average session volume of 2,125,917 shares. The stock had previously closed at $2.55.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup upped their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Sana Biotechnology in a report on Wednesday. Finally, JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th.

Sana Biotechnology Stock Performance

The stock has a market capitalization of $620.69 million, a price-to-earnings ratio of -1.93 and a beta of 1.44. The firm has a fifty day moving average of $3.58 and a 200-day moving average of $5.19.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. On average, analysts predict that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Insider Buying and Selling at Sana Biotechnology

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total value 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 $11,620,333.68. This represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 31.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sana Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Sana Biotechnology during the third quarter worth about $29,000. Stifel Financial Corp bought a new position in shares of Sana Biotechnology during the third quarter worth about $43,000. EP Wealth Advisors LLC bought a new position in shares of Sana Biotechnology during the third quarter worth about $45,000. Blue Trust Inc. lifted its position in shares of Sana Biotechnology by 1,246.6% during the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after purchasing an additional 12,154 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Sana Biotechnology during the third quarter worth about $67,000. 88.23% of the stock is 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.