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

Sana Biotechnology, Inc. (NASDAQ:SANA) shares gapped up prior to trading on Friday . The stock had previously closed at $2.66, but opened at $2.83. Sana Biotechnology shares last traded at $2.75, with a volume of 539,172 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SANA shares. TD Cowen raised Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday, January 8th. Jefferies Financial Group assumed coverage on Sana Biotechnology in a research report on Friday. They issued a “buy” rating and a $7.00 price target on the stock. Finally, HC Wainwright upped their price target on Sana Biotechnology from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.25.

Sana Biotechnology Trading Up 10.6 %

The firm has a 50-day moving average of $3.03 and a 200 day moving average of $3.27. The company has a market cap of $654.18 million, a P/E ratio of -2.09 and a beta of 1.63.

Insider Activity at Sana Biotechnology

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the 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 transaction, the insider now owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SANA. Cerity Partners LLC bought a new position in Sana Biotechnology in the fourth quarter worth approximately $25,000. Tower Research Capital LLC TRC boosted its holdings in Sana Biotechnology by 229.9% in 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 in the last quarter. Syon Capital LLC purchased a new stake in shares of Sana Biotechnology in the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sana Biotechnology in the third quarter worth approximately $29,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Sana Biotechnology in the fourth quarter worth approximately $29,000. 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.