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

Sana Biotechnology, Inc. (NASDAQ:SANA) 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 changing hands.

Analysts Set New Price Targets

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

Sana Biotechnology Price Performance

The firm has a market capitalization of $817.16 million, a P/E ratio of -2.61 and a beta of 1.45. The firm has a 50-day moving average price of $2.40 and a two-hundred day moving average price of $4.05.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Sana Biotechnology

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