Sana Biotechnology (NASDAQ:SANA) Shares Gap Up – Time to Buy?

Sana Biotechnology, Inc. (NASDAQ:SANA) gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SANA. JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, HC Wainwright boosted 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.25.

Sana Biotechnology Stock Down 3.7 %

The firm has a 50 day moving average of $2.40 and a two-hundred day moving average of $4.07. The firm has a market capitalization of $924.33 million, a price-to-earnings ratio of -2.96 and a beta of 1.45.

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

Institutional Trading of Sana Biotechnology

Hedge funds and other institutional investors have recently made changes to their positions in 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 bought a new stake in shares of Sana Biotechnology during the third quarter worth about $43,000. EP Wealth Advisors LLC acquired a new stake in shares of Sana Biotechnology in the 3rd quarter worth about $45,000. Blue Trust Inc. lifted its position in Sana Biotechnology by 1,246.6% in the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after acquiring an additional 12,154 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Sana Biotechnology during the 2nd quarter valued at about $73,000. 88.23% of the stock is currently owned by 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.