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

Sana Biotechnology, Inc. (NASDAQ:SANA) gapped up before the market opened on Tuesday . The stock had previously closed at $2.48, but opened at $2.55. Sana Biotechnology shares last traded at $2.55, with a volume of 4,072 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on SANA shares. JMP Securities lowered shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Citigroup boosted their price target on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Sana Biotechnology in a research note on Monday, November 11th.

Sana Biotechnology Trading Down 1.2 %

The stock’s fifty day moving average is $3.65 and its 200 day moving average is $5.24. The company has a market capitalization of $547.01 million, a P/E ratio of -1.77 and a beta of 1.44.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. On average, analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard Mulligan sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total value of $612,000.00. Following the sale, the director now directly owns 2,848,121 shares of the company’s stock, valued at $11,620,333.68. This represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Sana Biotechnology

Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Sana Biotechnology by 16.3% during the 3rd quarter. FMR LLC now owns 31,609,175 shares of the company’s stock valued at $131,494,000 after acquiring an additional 4,438,949 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sana Biotechnology by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company’s stock valued at $121,552,000 after acquiring an additional 2,358,089 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sana Biotechnology by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company’s stock valued at $13,175,000 after acquiring an additional 276,055 shares during the last quarter. State Street Corp lifted its stake in shares of Sana Biotechnology by 4.2% in the 3rd quarter. State Street Corp now owns 6,627,320 shares of the company’s stock worth $27,570,000 after purchasing an additional 269,274 shares during the period. Finally, Integral Health Asset Management LLC lifted its stake in shares of Sana Biotechnology by 22.4% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company’s stock worth $6,552,000 after purchasing an additional 220,000 shares during the period. 88.23% of the stock is owned by hedge funds and other institutional investors.

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.