Sana Biotechnology (NASDAQ:SANA) Trading Down 6% – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price traded down 6% during mid-day trading on Wednesday . The stock traded as low as $2.66 and last traded at $2.67. 550,564 shares changed hands during trading, a decline of 74% from the average session volume of 2,142,666 shares. The stock had previously closed at $2.84.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SANA shares. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Sana Biotechnology in a research report on Monday. JMP Securities downgraded shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, Citigroup lifted their price target on shares of Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Sana Biotechnology Price Performance

The company has a market cap of $578.27 million, a PE ratio of -1.85 and a beta of 1.44. The stock has a 50 day simple moving average of $3.97 and a two-hundred day simple moving average of $5.64.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. As a group, equities analysts anticipate that Sana Biotechnology, Inc. will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Mulligan sold 150,000 shares of Sana Biotechnology stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total value of $612,000.00. Following the transaction, the director now directly owns 2,848,121 shares in the company, valued at $11,620,333.68. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds have recently added to or reduced their stakes in SANA. FMR LLC lifted its holdings in shares of Sana Biotechnology by 16.3% in the 3rd quarter. FMR LLC now owns 31,609,175 shares of the company’s stock valued at $131,494,000 after buying an additional 4,438,949 shares during the period. Capital World Investors lifted its holdings in Sana Biotechnology by 255.8% in the first quarter. Capital World Investors now owns 5,449,035 shares of the company’s stock valued at $54,490,000 after acquiring an additional 3,917,728 shares during the period. Vanguard Group Inc. boosted its position in shares of Sana Biotechnology by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company’s stock worth $121,552,000 after purchasing an additional 2,358,089 shares in the last quarter. Baker BROS. Advisors LP grew its stake in shares of Sana Biotechnology by 19.0% during the 1st quarter. Baker BROS. Advisors LP now owns 2,380,949 shares of the company’s stock worth $23,809,000 after purchasing an additional 380,949 shares during the period. Finally, Integral Health Asset Management LLC increased its holdings in shares of Sana Biotechnology by 22.4% in 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 in the last quarter. Institutional investors and hedge funds 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.