Sana Biotechnology (NASDAQ:SANA) Shares Gap Up - Still a Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares gapped up before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SANA shares. Jefferies Financial Group began coverage on Sana Biotechnology in a research note on Friday. They issued a "buy" rating and a $7.00 price target for the company. 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 report on Wednesday, January 8th. Finally, TD Cowen raised shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Sana Biotechnology has a consensus rating of "Moderate Buy" and a consensus price target of $12.25.

Sana Biotechnology Price Performance

The stock has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $3.31. The firm has a market capitalization of $592.78 million, a P/E ratio of -1.90 and a beta of 1.63.

Insider Activity

In other news, insider Fmr Llc sold 290,912 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total value of $1,888,018.88. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 31.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in shares of Sana Biotechnology by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 47,341 shares of the company's stock worth $77,000 after purchasing an additional 4,554 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sana Biotechnology by 17.9% during 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 in the last quarter. Teacher Retirement System of Texas raised its holdings in Sana Biotechnology by 20.3% during the fourth quarter. Teacher Retirement System of Texas now owns 36,797 shares of the company's stock worth $60,000 after buying an additional 6,209 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sana Biotechnology by 2.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 280,731 shares of the company's stock valued at $457,000 after buying an additional 6,613 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Sana Biotechnology by 51.0% in the fourth quarter. Blue Trust Inc. now owns 19,823 shares of the company's stock valued at $32,000 after buying an additional 6,694 shares in the last quarter. Institutional investors own 88.23% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Remove Ads