Sana Biotechnology (NASDAQ:SANA) Shares Gap Up – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA) shares gapped up before the market opened on Friday . The stock had previously closed at $4.30, but opened at $5.03. Sana Biotechnology shares last traded at $4.42, with a volume of 8,539,073 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SANA shares. HC Wainwright increased their price objective on Sana Biotechnology from $8.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, JMP Securities lowered shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Sana Biotechnology Price Performance

The firm has a fifty day moving average of $2.40 and a 200 day moving average of $4.05. The stock has a market capitalization of $817.16 million, a price-to-earnings ratio of -2.61 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. Research analysts predict that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Insider Buying and Selling at Sana Biotechnology

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

Institutional Investors Weigh In On Sana Biotechnology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sana Biotechnology by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,196 shares of the company’s stock valued at $146,000 after purchasing an additional 5,338 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Sana Biotechnology by 2.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,899 shares of the company’s stock worth $1,056,000 after purchasing an additional 6,823 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Sana Biotechnology during the 3rd quarter worth about $29,000. Arizona State Retirement System lifted its stake in Sana Biotechnology by 36.7% in the 2nd quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock valued at $202,000 after buying an additional 9,940 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in Sana Biotechnology in the 3rd quarter worth about $43,000. Hedge funds and other institutional investors 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.