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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target 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. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Sana Biotechnology in a research report on Wednesday, November 27th. Finally, JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Sana Biotechnology Stock Performance

The company has a market capitalization of $526.92 million, a price-to-earnings ratio of -1.73 and a beta of 1.33. The business has a 50 day moving average price of $3.43 and a 200-day moving average price of $4.98.

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

Insider Activity

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total transaction of $612,000.00. Following the completion of the sale, the director now owns 2,848,121 shares in the company, valued at approximately $11,620,333.68. The trade was a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in Sana Biotechnology during the 3rd quarter worth approximately $29,000. Stifel Financial Corp bought a new stake in Sana Biotechnology during the third quarter worth $43,000. EP Wealth Advisors LLC purchased a new stake in Sana Biotechnology in the 3rd quarter valued at $45,000. Blue Trust Inc. lifted its stake in Sana Biotechnology by 1,246.6% during the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after acquiring an additional 12,154 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in Sana Biotechnology during the 3rd quarter worth $67,000. 88.23% of the stock is currently 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.