Sana Biotechnology (NASDAQ:SANA) Trading Down 6.4% – Should You Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price dropped 6.4% on Monday . The company traded as low as $3.96 and last traded at $3.96. Approximately 422,683 shares were traded during trading, a decline of 81% from the average daily volume of 2,202,793 shares. The stock had previously closed at $4.23.

Wall Street Analysts Forecast Growth

SANA has been the subject of several research reports. Citigroup increased their price objective on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Rodman & Renshaw assumed coverage on shares of Sana Biotechnology in a report on Wednesday, June 26th. They set a “buy” rating and a $16.00 price objective for the company. Finally, HC Wainwright decreased their price objective on shares of Sana Biotechnology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Sana Biotechnology Stock Performance

The stock has a market cap of $839.50 million, a P/E ratio of -2.52 and a beta of 1.42. The firm’s 50 day moving average is $4.70 and its 200 day moving average is $6.22.

Sana Biotechnology (NASDAQ:SANA) last released its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). As a group, analysts expect that Sana Biotechnology, Inc. will post -1.13 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Mulligan sold 150,000 shares of the 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 sale, the director now directly owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Sana Biotechnology

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of Sana Biotechnology by 1,246.6% in the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after buying an additional 12,154 shares during the last quarter. Algert Global LLC acquired a new stake in Sana Biotechnology in the second quarter valued at approximately $73,000. The Manufacturers Life Insurance Company raised its holdings in Sana Biotechnology by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 312,031 shares of the company’s stock valued at $1,704,000 after acquiring an additional 23,157 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in Sana Biotechnology by 112.0% in the second quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock valued at $149,000 after acquiring an additional 14,430 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Sana Biotechnology by 318.8% during the second quarter. Squarepoint Ops LLC now owns 126,572 shares of the company’s stock worth $691,000 after purchasing an additional 96,348 shares in the last quarter. 88.23% of the stock is currently 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.