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

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JMP Securities lowered Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Citigroup upped their price target on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, HC Wainwright dropped their price target on Sana Biotechnology from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday.

Sana Biotechnology Stock Performance

The stock has a market capitalization of $689.64 million, a P/E ratio of -2.72 and a beta of 1.44. The stock has a 50 day moving average of $4.33 and a 200 day moving average of $5.86.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). On average, research analysts anticipate that Sana Biotechnology, Inc. will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Mulligan sold 150,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 2,848,121 shares in the company, valued at $11,620,333.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of Sana Biotechnology by 1,246.6% in the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after purchasing an additional 12,154 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Sana Biotechnology in the second quarter valued at $73,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Sana Biotechnology in the third quarter valued at $67,000. XTX Topco Ltd acquired a new stake in shares of Sana Biotechnology in the second quarter valued at $100,000. Finally, Dark Forest Capital Management LP lifted its holdings in shares of Sana Biotechnology by 112.0% in the second quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock valued at $149,000 after buying an additional 14,430 shares during the period. 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.