Sana Biotechnology (NASDAQ:SANA) Shares Down 8.5% – What’s Next?

Sana Biotechnology, Inc. (NASDAQ:SANA) shares were down 8.5% during trading on Tuesday . The stock traded as low as $2.28 and last traded at $2.21. Approximately 165,731 shares changed hands during trading, a decline of 95% from the average daily volume of 3,057,026 shares. The stock had previously closed at $2.42.

Wall Street Analyst Weigh In

SANA has been the subject of a number of recent research reports. TD Cowen raised Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. Jefferies Financial Group began coverage on Sana Biotechnology in a report on Friday, March 14th. They set a “buy” rating and a $7.00 price target for the company. Citizens Jmp raised shares of Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research note on Tuesday, March 18th. Finally, HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Sana Biotechnology in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Sana Biotechnology presently has an average rating of “Moderate Buy” and a consensus target price of $10.80.

Sana Biotechnology Stock Performance

The firm has a market capitalization of $407.30 million, a price-to-earnings ratio of -1.29 and a beta of 1.63. The firm has a fifty day moving average price of $2.86 and a 200 day moving average price of $3.08.

Sana Biotechnology (NASDAQ:SANA) last released its earnings results on Monday, March 17th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.02. Research analysts predict that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Fmr Llc sold 290,912 shares of the firm’s stock in a transaction that occurred 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 directly owns 4,541,511 shares of the company’s stock, valued at $29,474,406.39. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.10% of the stock is owned by insiders.

Institutional Trading of Sana Biotechnology

A number of institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Sana Biotechnology during the 3rd quarter worth $29,000. Stifel Financial Corp purchased a new position in Sana Biotechnology during the 3rd quarter valued at about $43,000. EP Wealth Advisors LLC purchased a new position in Sana Biotechnology during the 3rd quarter valued at about $45,000. Tower Research Capital LLC TRC raised its position in Sana Biotechnology by 229.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company’s stock worth $25,000 after acquiring an additional 10,548 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Sana Biotechnology in the fourth quarter valued at about $25,000. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

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.