Sana Biotechnology (NASDAQ:SANA) Trading Up 5.3%

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SANA. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Sana Biotechnology in a research note on Friday, March 1st. JMP Securities raised their price objective on shares of Sana Biotechnology from $8.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Friday, March 1st.

Sana Biotechnology Stock Performance

The company has a market cap of $1.89 billion, a price-to-earnings ratio of -5.84 and a beta of 1.61. The stock’s fifty day simple moving average is $9.04 and its two-hundred day simple moving average is $6.03.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. During the same quarter last year, the business posted ($0.40) earnings per share. Analysts predict that Sana Biotechnology, Inc. will post -1.02 EPS for the current fiscal year.

Insider Activity at Sana Biotechnology

In other Sana Biotechnology news, Director Robert Nelsen bought 1,818,181 shares of Sana Biotechnology stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $5.50 per share, for a total transaction of $9,999,995.50. Following the acquisition, the director now owns 12,446,022 shares of the company’s stock, valued at approximately $68,453,121. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Sana Biotechnology

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Sana Biotechnology by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,167,585 shares of the company’s stock worth $35,479,000 after buying an additional 107,167 shares in the last quarter. PFM Health Sciences LP increased its position in shares of Sana Biotechnology by 51.4% in the 4th quarter. PFM Health Sciences LP now owns 1,883,337 shares of the company’s stock worth $7,684,000 after purchasing an additional 639,198 shares during the last quarter. State of Michigan Retirement System bought a new stake in shares of Sana Biotechnology in the 3rd quarter worth about $2,663,000. GSA Capital Partners LLP bought a new stake in shares of Sana Biotechnology in the 3rd quarter worth about $2,091,000. Finally, Deutsche Bank AG increased its position in shares of Sana Biotechnology by 1.8% in the 3rd quarter. Deutsche Bank AG now owns 478,482 shares of the company’s stock worth $1,852,000 after purchasing an additional 8,408 shares during the last quarter. 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.