Sana Biotechnology (NASDAQ:SANA) Shares Gap Up - Here's What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $4.30, but opened at $5.03. Sana Biotechnology shares last traded at $4.42, with a volume of 8,539,073 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen raised shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research note on Wednesday. JMP Securities cut Sana Biotechnology from an "outperform" rating to a "market perform" rating in a research note on Tuesday, November 5th. Finally, HC Wainwright upped their price objective on Sana Biotechnology from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.25.

Sana Biotechnology Stock Performance

The company's fifty day moving average price is $2.40 and its 200-day moving average price is $4.06. The stock has a market cap of $817.16 million, a P/E ratio of -2.61 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. Analysts anticipate that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Sana Biotechnology

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total value of $1,888,018.88. Following the transaction, the insider now directly owns 4,541,511 shares in the company, valued at $29,474,406.39. This represents a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in Sana Biotechnology during the 3rd quarter valued at $29,000. Stifel Financial Corp purchased a new position in shares of Sana Biotechnology during the third quarter valued at $43,000. EP Wealth Advisors LLC bought a new stake in shares of Sana Biotechnology in the third quarter valued at about $45,000. Blue Trust Inc. lifted its stake 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 acquiring an additional 12,154 shares during the period. Finally, Algert Global LLC bought a new position in Sana Biotechnology during the 2nd quarter worth about $73,000. 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.