Sana Biotechnology (NASDAQ:SANA) Shares Up 7.7% – What’s Next?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price rose 7.7% during mid-day trading on Monday . The stock traded as high as $4.07 and last traded at $4.05. Approximately 165,429 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,168,752 shares. The stock had previously closed at $3.76.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SANA shares. HC Wainwright decreased their price objective on Sana Biotechnology from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup boosted their price target on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Sana Biotechnology Price Performance

The company’s 50 day simple moving average is $4.59 and its two-hundred day simple moving average is $6.03. The stock has a market capitalization of $840.94 million, a P/E ratio of -3.29 and a beta of 1.42.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). On average, research analysts anticipate that Sana Biotechnology, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction of $612,000.00. Following the transaction, the director now owns 2,848,121 shares in the company, valued at $11,620,333.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 31.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC increased its stake in shares of Sana Biotechnology by 14.8% in the 1st quarter. ProShare Advisors LLC now owns 32,690 shares of the company’s stock valued at $327,000 after buying an additional 4,210 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Sana Biotechnology by 20.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,858 shares of the company’s stock worth $163,000 after purchasing an additional 5,090 shares during the last quarter. Arizona State Retirement System lifted its position in Sana Biotechnology by 36.7% during the 2nd quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock valued at $202,000 after purchasing an additional 9,940 shares during the period. Blue Trust Inc. boosted its stake in shares of Sana Biotechnology by 1,246.6% in the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after purchasing an additional 12,154 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of Sana Biotechnology during the second quarter worth approximately $73,000. Institutional investors 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.