Sana Biotechnology (NASDAQ:SANA) Trading Down 7% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price fell 7% during mid-day trading on Tuesday . The stock traded as low as $2.65 and last traded at $2.65. 849,192 shares were traded during trading, a decline of 60% from the average session volume of 2,128,477 shares. The stock had previously closed at $2.85.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Sana Biotechnology in a research note on Wednesday, November 27th. Finally, Citigroup boosted their target price on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Sana Biotechnology Trading Down 9.8 %

The company has a fifty day moving average of $3.51 and a 200-day moving average of $5.08. The company has a market capitalization of $573.80 million, a price-to-earnings ratio of -1.84 and a beta of 1.33.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. As a group, equities research analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Insider Activity at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total value of $612,000.00. Following the completion of the sale, the director now owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 31.10% of the stock is owned by corporate insiders.

Institutional Trading of Sana Biotechnology

Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its position in shares of Sana Biotechnology by 16.3% during the 3rd quarter. FMR LLC now owns 31,609,175 shares of the company’s stock valued at $131,494,000 after buying an additional 4,438,949 shares during the period. State Street Corp lifted its stake in shares of Sana Biotechnology by 4.2% in the 3rd quarter. State Street Corp now owns 6,627,320 shares of the company’s stock valued at $27,570,000 after purchasing an additional 269,274 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sana Biotechnology by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company’s stock worth $13,175,000 after purchasing an additional 276,055 shares during the period. Integral Health Asset Management LLC increased its position in shares of Sana Biotechnology by 22.4% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company’s stock worth $6,552,000 after purchasing an additional 220,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Sana Biotechnology by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,047,846 shares of the company’s stock valued at $4,359,000 after buying an additional 105,382 shares during the period. Hedge funds and other 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.