Sana Biotechnology (NASDAQ:SANA) Stock Price Up 9.8% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SANA. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Sana Biotechnology in a research report on Wednesday. JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, Citigroup lifted their price objective on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 9th.

Sana Biotechnology Trading Up 9.0 %

The firm has a market capitalization of $620.69 million, a P/E ratio of -1.99 and a beta of 1.44. The stock has a 50-day simple moving average of $3.51 and a two-hundred day simple moving average of $5.11.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. As a group, research analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Insider Transactions at Sana Biotechnology

In other news, Director Richard Mulligan sold 150,000 shares of Sana Biotechnology stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total value of $612,000.00. Following the transaction, the director now directly owns 2,848,121 shares in the company, valued at approximately $11,620,333.68. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

Institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Sana Biotechnology in the 3rd quarter valued at about $29,000. Barclays PLC grew its holdings in Sana Biotechnology by 126.6% in the third quarter. Barclays PLC now owns 318,910 shares of the company’s stock worth $1,325,000 after purchasing an additional 178,179 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Sana Biotechnology by 9.6% during the third quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company’s stock worth $13,175,000 after purchasing an additional 276,055 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Sana Biotechnology during the 3rd quarter valued at $45,000. Finally, State Street Corp boosted its position in shares of Sana Biotechnology by 4.2% in the 3rd quarter. State Street Corp now owns 6,627,320 shares of the company’s stock worth $27,570,000 after purchasing an additional 269,274 shares in the last quarter. Institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

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.