Sana Biotechnology (NASDAQ:SANA) Stock Price Up 5.3%

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) shot up 5.3% on Wednesday . The stock traded as high as $8.60 and last traded at $8.52. 782,879 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 3,042,173 shares. The stock had previously closed at $8.09.

Analysts Set New Price Targets

Several research firms have recently weighed in on SANA. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Sana Biotechnology in a research report on Friday, March 1st. JMP Securities lifted their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Friday, March 1st.

Sana Biotechnology Trading Up 2.6 %

The company has a 50-day moving average price of $9.07 and a two-hundred day moving average price of $6.10. The stock has a market capitalization of $1.92 billion, a P/E ratio of -5.93 and a beta of 1.61.

Sana Biotechnology (NASDAQ:SANA) last issued its earnings results on Thursday, February 29th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. During the same period last year, the company earned ($0.40) earnings per share. Research analysts forecast that Sana Biotechnology, Inc. will post -1.02 earnings per share for the current year.

Insider Activity

In other news, Director Robert Nelsen bought 1,818,181 shares of Sana Biotechnology stock in a transaction dated Thursday, February 8th. The stock was bought at an average cost of $5.50 per share, for a total transaction of $9,999,995.50. Following the purchase, the director now directly owns 12,446,022 shares in the company, valued at approximately $68,453,121. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new position in Sana Biotechnology during the 3rd quarter valued at about $52,000. Victory Capital Management Inc. acquired a new position in Sana Biotechnology during the 4th quarter valued at about $54,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sana Biotechnology by 42.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,257 shares of the company’s stock valued at $66,000 after purchasing an additional 4,815 shares during the last quarter. Simplex Trading LLC boosted its stake in Sana Biotechnology by 31.3% during the 4th quarter. Simplex Trading LLC now owns 18,080 shares of the company’s stock valued at $73,000 after purchasing an additional 4,313 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Sana Biotechnology by 351.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,800 shares of the company’s stock worth $93,000 after buying an additional 17,753 shares during the last quarter. Institutional investors and hedge funds 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.