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

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price gapped up prior to trading 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.

Wall Street Analyst Weigh In

SANA has been the topic of several recent research reports. JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Sana Biotechnology in a research note on Monday, November 11th. Finally, Citigroup raised their target price on shares of Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Sana Biotechnology Trading Down 1.2 %

The company has a market cap of $547.01 million, a P/E ratio of -1.77 and a beta of 1.44. The business’s 50 day simple moving average is $3.65 and its 200 day simple moving average is $5.24.

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

Insider Buying and Selling at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total value of $612,000.00. Following the completion of the transaction, the director now directly owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Sana Biotechnology in the third quarter worth about $29,000. Stifel Financial Corp bought a new position in Sana Biotechnology in the third quarter worth about $43,000. EP Wealth Advisors LLC bought a new position in Sana Biotechnology in the third quarter worth about $45,000. Blue Trust Inc. raised its holdings in Sana Biotechnology by 1,246.6% in the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after purchasing an additional 12,154 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Sana Biotechnology during the third quarter worth about $67,000. 88.23% of the stock is owned by hedge funds and other institutional investors.

Sana Biotechnology Company Profile

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.