Sana Biotechnology (NASDAQ:SANA) Trading Up 12.2% – Should You Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price traded up 12.2% during trading on Monday . The stock traded as high as $2.59 and last traded at $2.58. 627,046 shares traded hands during trading, a decline of 70% from the average session volume of 2,119,753 shares. The stock had previously closed at $2.30.

Wall Street Analyst Weigh In

SANA has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Sana Biotechnology in a research report on Wednesday, November 27th. JMP Securities downgraded shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th.

Sana Biotechnology Stock Down 5.6 %

The company has a market capitalization of $522.45 million, a PE ratio of -1.68 and a beta of 1.33. The business’s 50 day simple moving average is $3.28 and its 200 day simple moving average is $4.80.

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

Insider Buying and Selling

In related news, Director Richard Mulligan sold 150,000 shares of the stock in a transaction that occurred 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 owns 2,848,121 shares in the company, valued at approximately $11,620,333.68. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 31.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SANA. Bank of New York Mellon Corp grew its holdings in Sana Biotechnology by 26.5% during the second quarter. Bank of New York Mellon Corp now owns 431,744 shares of the company’s stock valued at $2,357,000 after purchasing an additional 90,423 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sana Biotechnology by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,858 shares of the company’s stock valued at $163,000 after purchasing an additional 5,090 shares during the last quarter. Rhumbline Advisers grew its holdings in Sana Biotechnology by 16.0% during the second quarter. Rhumbline Advisers now owns 181,903 shares of the company’s stock valued at $993,000 after purchasing an additional 25,056 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Sana Biotechnology by 36.7% in the second quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock valued at $202,000 after acquiring an additional 9,940 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Sana Biotechnology in the second quarter valued at approximately $100,000. Institutional investors and hedge funds 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.