Sana Biotechnology (NASDAQ:SANA) Trading Down 6% – Time to Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA) shares dropped 6% on Wednesday . The stock traded as low as $2.66 and last traded at $2.67. Approximately 550,564 shares were traded during trading, a decline of 74% from the average daily volume of 2,142,666 shares. The stock had previously closed at $2.84.

Analyst Upgrades and Downgrades

SANA has been the subject of several analyst reports. JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Citigroup lifted their price objective on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Sana Biotechnology in a research note on Monday.

Sana Biotechnology Stock Performance

The stock’s 50 day simple moving average is $3.97 and its two-hundred day simple moving average is $5.64. The firm has a market capitalization of $578.27 million, a PE ratio of -1.85 and a beta of 1.44.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. Equities research analysts expect that Sana Biotechnology, Inc. will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at Sana Biotechnology

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total value 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. The trade was 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. Company insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Sana Biotechnology

Several institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC grew its holdings in shares of Sana Biotechnology by 14.8% in the first quarter. ProShare Advisors LLC now owns 32,690 shares of the company’s stock valued at $327,000 after purchasing an additional 4,210 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sana Biotechnology by 24.1% in the first quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company’s stock valued at $121,552,000 after acquiring an additional 2,358,089 shares in the last quarter. Capital World Investors boosted 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 purchasing an additional 3,917,728 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Sana Biotechnology by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,695,459 shares of the company’s stock worth $36,956,000 after purchasing an additional 101,434 shares during the period. Finally, Baker BROS. Advisors LP boosted its stake in shares of Sana Biotechnology by 19.0% in the 1st quarter. Baker BROS. Advisors LP now owns 2,380,949 shares of the company’s stock valued at $23,809,000 after buying an additional 380,949 shares during the period. 88.23% of the stock is 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.