Sana Biotechnology (NASDAQ:SANA) Trading Down 7% – What’s Next?

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

Analyst Ratings Changes

SANA has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Sana Biotechnology in a research report on Wednesday, November 27th. Citigroup increased their price objective on shares of Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th.

Sana Biotechnology Stock Performance

The company has a market cap of $573.80 million, a P/E ratio of -1.84 and a beta of 1.33. The business’s fifty day moving average is $3.51 and its two-hundred day moving average is $5.08.

Sana Biotechnology (NASDAQ:SANA) last issued its earnings results on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01. Analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total transaction of $612,000.00. Following the sale, the director now owns 2,848,121 shares of the company’s stock, valued at $11,620,333.68. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 31.10% of the company’s stock.

Institutional Trading of Sana Biotechnology

Several hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Sana Biotechnology during the 3rd quarter worth $29,000. Stifel Financial Corp acquired a new stake in Sana Biotechnology in the third quarter worth about $43,000. EP Wealth Advisors LLC acquired a new position in shares of Sana Biotechnology during the third quarter valued at about $45,000. Blue Trust Inc. grew its position in Sana Biotechnology by 1,246.6% during the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after purchasing an additional 12,154 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Sana Biotechnology in the 2nd quarter valued at $73,000. 88.23% of the stock is owned by hedge funds and other institutional investors.

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.