Sana Biotechnology (NASDAQ:SANA) Trading Down 6.5% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA) traded down 6.5% during mid-day trading on Tuesday . The stock traded as low as $2.97 and last traded at $2.96. 4,539,054 shares traded hands during trading, a decline of 81% from the average session volume of 23,432,320 shares. The stock had previously closed at $3.16.

Analysts Set New Price Targets

A number of brokerages recently commented on SANA. JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. HC Wainwright raised their price objective on Sana Biotechnology from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Sana Biotechnology Stock Down 7.6 %

The stock has a 50-day moving average price of $2.42 and a 200 day moving average price of $3.96. The firm has a market capitalization of $651.95 million, a price-to-earnings ratio of -2.09 and a beta of 1.45.

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

Insider Activity

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total value of $1,888,018.88. Following the completion of the transaction, the insider now owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Sana Biotechnology by 16.3% in the third quarter. FMR LLC now owns 31,609,175 shares of the company’s stock valued at $131,494,000 after acquiring an additional 4,438,949 shares during the last quarter. State Street Corp grew its stake in Sana Biotechnology by 4.2% in the third quarter. State Street Corp now owns 6,627,320 shares of the company’s stock worth $27,570,000 after purchasing an additional 269,274 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sana Biotechnology by 9.6% during the third 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 boosted its position in 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 valued at $6,552,000 after purchasing an additional 220,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew 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 worth $4,359,000 after buying an additional 105,382 shares in the last quarter. 88.23% of the stock is 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.