Sana Biotechnology (NASDAQ:SANA) Stock Price Down 8.2% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA) shares traded down 8.2% during trading on Thursday . The stock traded as low as $3.13 and last traded at $3.13. 1,274,994 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 2,148,411 shares. The stock had previously closed at $3.41.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup lifted their price target on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 9th. JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, HC Wainwright decreased their target price on Sana Biotechnology from $11.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday.

Sana Biotechnology Stock Performance

The firm has a market cap of $689.64 million, a PE ratio of -2.72 and a beta of 1.44. The stock has a fifty day moving average price of $4.33 and a 200-day moving average price of $5.86.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). As a group, equities analysts predict that Sana Biotechnology, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Mulligan sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total transaction of $612,000.00. Following the transaction, the director now directly owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 31.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Sana Biotechnology in the 1st quarter valued at approximately $1,343,000. ProShare Advisors LLC raised its position in shares of Sana Biotechnology by 14.8% in the 1st quarter. ProShare Advisors LLC now owns 32,690 shares of the company’s stock valued at $327,000 after purchasing an additional 4,210 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Sana Biotechnology by 24.1% in the 1st quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company’s stock valued at $121,552,000 after purchasing an additional 2,358,089 shares in the last quarter. Capital World Investors raised its position in shares of Sana Biotechnology by 255.8% in the 1st quarter. Capital World Investors now owns 5,449,035 shares of the company’s stock valued at $54,490,000 after purchasing an additional 3,917,728 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Sana Biotechnology by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,695,459 shares of the company’s stock valued at $36,956,000 after purchasing an additional 101,434 shares in the last quarter. 88.23% of the stock is owned by institutional investors and hedge funds.

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.