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

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock 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 changing hands.

Analyst Upgrades and Downgrades

SANA has been the subject of a number of recent research reports. TD Cowen raised Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday. HC Wainwright lifted their price objective on shares of Sana Biotechnology from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JMP Securities downgraded shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Sana Biotechnology Price Performance

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

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

Hedge Funds Weigh In On Sana Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in Sana Biotechnology by 16.3% during the 3rd quarter. FMR LLC now owns 31,609,175 shares of the company’s stock worth $131,494,000 after buying an additional 4,438,949 shares during the period. Geode Capital Management LLC grew its stake in shares of Sana Biotechnology by 9.6% in the third quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company’s stock valued at $13,175,000 after acquiring an additional 276,055 shares in the last quarter. Stifel Financial Corp acquired a new stake in Sana Biotechnology in the 3rd quarter worth about $43,000. Integral Health Asset Management LLC boosted its holdings in Sana Biotechnology by 22.4% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company’s stock valued at $6,552,000 after purchasing an additional 220,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sana Biotechnology by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,047,846 shares of the company’s stock worth $4,359,000 after purchasing an additional 105,382 shares in the last quarter. 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.