Sana Biotechnology (NASDAQ:SANA) Sees Strong Trading Volume on Strong Earnings

Sana Biotechnology, Inc. (NASDAQ:SANA) saw unusually-strong trading volume on Tuesday following a better than expected earnings announcement. Approximately 3,390,446 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 2,985,230 shares.The stock last traded at $2.27 and had previously closed at $2.77.

The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.02.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SANA shares. Jefferies Financial Group started coverage on shares of Sana Biotechnology in a report on Friday, March 14th. They set a “buy” rating and a $7.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Sana Biotechnology in a report on Tuesday. Citizens Jmp raised shares of Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Tuesday. Finally, TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.80.

Insider Buying and Selling at Sana Biotechnology

In other news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total value of $1,888,018.88. Following the sale, the insider now owns 4,541,511 shares in the company, valued at $29,474,406.39. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 31.10% of the stock is owned by corporate insiders.

Institutional Trading of Sana Biotechnology

Institutional investors have recently modified their holdings of the stock. Cerity Partners LLC acquired a new stake in shares of Sana Biotechnology in the fourth quarter valued at about $25,000. Tower Research Capital LLC TRC boosted its position in Sana Biotechnology by 229.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company’s stock worth $25,000 after acquiring an additional 10,548 shares during the last quarter. Syon Capital LLC acquired a new position in Sana Biotechnology during the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB acquired a new position in Sana Biotechnology during the third quarter worth about $29,000. Finally, Ameriprise Financial Inc. acquired a new position in Sana Biotechnology during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

Sana Biotechnology Stock Up 2.6 %

The stock has a market capitalization of $522.45 million, a price-to-earnings ratio of -1.67 and a beta of 1.63. The business’s 50-day moving average is $3.02 and its two-hundred day moving average is $3.20.

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.