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

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) 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 trading hands.

Wall Street Analysts Forecast Growth

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

Sana Biotechnology Stock Performance

The firm has a market capitalization of $654.18 million, a price-to-earnings ratio of -2.09 and a beta of 1.63. The company has a fifty day moving average of $3.03 and a two-hundred day moving average of $3.27.

Insider Buying and Selling

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Sana Biotechnology by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 47,341 shares of the company’s stock valued at $77,000 after purchasing an additional 4,554 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sana Biotechnology by 17.9% in the 3rd 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 during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Sana Biotechnology by 20.3% in the 4th quarter. Teacher Retirement System of Texas now owns 36,797 shares of the company’s stock valued at $60,000 after purchasing an additional 6,209 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sana Biotechnology by 2.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 280,731 shares of the company’s stock valued at $457,000 after purchasing an additional 6,613 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Sana Biotechnology by 51.0% in the 4th quarter. Blue Trust Inc. now owns 19,823 shares of the company’s stock valued at $32,000 after purchasing an additional 6,694 shares during the last quarter. 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.