Sana Biotechnology (NASDAQ:SANA) Shares Gap Down to $10.12

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $10.12, but opened at $9.70. Sana Biotechnology shares last traded at $9.60, with a volume of 150,671 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SANA. JMP Securities lifted their price objective on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a "market outperform" rating in a research note on Friday, March 1st. HC Wainwright restated a "buy" rating and set a $12.00 price target on shares of Sana Biotechnology in a research report on Friday, March 1st.

Sana Biotechnology Stock Performance

The stock has a 50 day moving average price of $8.16 and a 200 day moving average price of $5.50. The company has a market cap of $1.94 billion, a P/E ratio of -6.21 and a beta of 1.61.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.03. During the same quarter in the prior year, the business posted ($0.40) EPS. As a group, equities research analysts predict that Sana Biotechnology, Inc. will post -1.02 earnings per share for the current year.

Insider Buying and Selling at Sana Biotechnology

In related news, Director Robert Nelsen acquired 1,818,181 shares of Sana Biotechnology stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $5.50 per share, with a total value of $9,999,995.50. Following the purchase, the director now directly owns 12,446,022 shares in the company, valued at approximately $68,453,121. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 34.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of Sana Biotechnology by 1.8% in the 3rd quarter. Deutsche Bank AG now owns 478,482 shares of the company's stock valued at $1,852,000 after acquiring an additional 8,408 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Sana Biotechnology in the third quarter valued at $2,091,000. Citigroup Inc. boosted its position in shares of Sana Biotechnology by 10.3% in the third quarter. Citigroup Inc. now owns 145,370 shares of the company's stock worth $563,000 after buying an additional 13,616 shares during the period. Trexquant Investment LP purchased a new position in shares of Sana Biotechnology during the third quarter valued at $528,000. Finally, State of Michigan Retirement System acquired a new position in Sana Biotechnology during the third quarter valued at $2,663,000. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.