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 changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SANA shares. Citigroup boosted their target price on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Sana Biotechnology in a research report on Wednesday. Finally, JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th.

Sana Biotechnology Stock Up 4.1 %

The business has a 50 day simple moving average of $3.61 and a two-hundred day simple moving average of $5.21. The firm has a market cap of $569.34 million, a PE ratio of -1.82 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. Equities analysts forecast that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Insider Transactions at Sana Biotechnology

In other news, Director Richard Mulligan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total transaction of $612,000.00. Following the transaction, the director now owns 2,848,121 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

Institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in Sana Biotechnology during the third quarter valued at about $29,000. Stifel Financial Corp bought a new stake in Sana Biotechnology during the third quarter valued at about $43,000. EP Wealth Advisors LLC bought a new stake in Sana Biotechnology during the third quarter valued at about $45,000. Blue Trust Inc. boosted its position in Sana Biotechnology by 1,246.6% during the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after purchasing an additional 12,154 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in Sana Biotechnology during the third quarter valued at about $67,000. 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.