Buying Buzz: Sana Biotechnology Inc. [SANA] Director Yang Patrick Y acquires 28,000 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sana Biotechnology Inc. shares valued at $204,400 were purchased by Yang Patrick Y on Mar 21. At $7.30 per share, Yang Patrick Y acquired 28,000 shares. The insider’s holdings grew to 174,250 shares worth approximately $1.32 million following the completion of this transaction.

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Also, MacDonald James J. sold 333 shares, netting a total of over 2,091 in proceeds. Following the sale of shares at $6.28 each, the insider now holds 429,417 shares.

Before that, AGARWAL SUNIL had sold 1,627 shares from its account. In a trade valued at $42,302, the EVP, Head of Development & CMO traded Sana Biotechnology Inc. shares for $26.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,627 shares, worth approximately $11.75 million.

As published in their initiating research note from Morgan Stanley on March 01, 2021, Sana Biotechnology Inc. [SANA] has been an Overweight and the price target has been revised to $40. This represents a 81.05% premium over Wednesday’s closing price. Analysts at JP Morgan started covering the stock with ‘”a Neutral”‘ outlook in a report released in early March. As of March 01, 2021, Goldman has initiated its “Neutral” rating for SANA. Earlier on March 01, 2021, BofA Securities initiated its rating. Their recommendation was “a Buy” for SANA stock.

Analyzing SANA’s Price Performance

On Wednesday, Sana Biotechnology Inc. [NASDAQ: SANA] plunged -4.29% to $7.58. The stock’s lowest price that day was $7.535, but it reached a high of $8.00 in the same session. During the last five days, there has been a drop of approximately -7.22%. Over the course of the year, Sana Biotechnology Inc. shares have dropped approximately -51.03%. Shares of the company reached a 52-week high of $16.03 on 01/03/22 and a 52-week low of $3.92 on 06/14/22. A 50-day SMA is recorded $6.97, while a 200-day SMA reached $9.80. Nevertheless, trading volume fell to 1.02 million shares from 1.05 million shares the previous day.

Support And Resistance Levels for Sana Biotechnology Inc. (SANA)

According to the 24-hour chart, there is a support level at 7.41, which, if violated, would cause prices to drop to 7.24. In the upper region, resistance lies at 7.88. The next price resistance is at 8.17. RSI (Relative Strength Index) is 49.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 40.61%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Sana Biotechnology Inc. subject to short interest?

Stocks of Sana Biotechnology Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.32 million shares to 22.35 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 19.03 million shares. A jump of 14.85% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 12.51 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.51.

Which companies own the most shares of Sana Biotechnology Inc. (SANA)?

According to Baillie Gifford & Co. filings, the company currently owns 11,011,462 shares, which is about 5.81% of the total SANA shares outstanding. The investor’s shares have plunged by -74,399 from its previous 13-F filing of 11085861.0 shares. With the completion of the sale transaction, Canada Pension Plan Investment Bo’s stake is now worth $67,969,000. The Vanguard Group, Inc. acquire a 5.53% interest valued at $52.77 million while SSgA Funds Management, Inc. purchased a 3,614,591 stake. A total of 2,268,751 shares of Sana Biotechnology Inc. were bought by The Public Sector Pension Investm during the quarter, and 464,206 were bought by BlackRock Fund Advisors. In its current portfolio, Crestline Management LP holds 3,365,624 shares valued at $22.48 million.

In terms of Sana Biotechnology Inc. share price expectations, FactSet research, analysts set an average price target of $12.75 in the next 12 months, up nearly 64.14% from the previous closing price of $7.92. Analysts anticipate Sana Biotechnology Inc. stock to reach $18.00 by 2022, with the lowest price target being $7.00. In spite of this, 4 analysts ranked Sana Biotechnology Inc. stock as an Overweight at the end of 2022.


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