Sana Biotechnology (NASDAQ:SANA) Stock Price Down 6.2% – What’s Next?

Sana Biotechnology, Inc. (NASDAQ:SANA) dropped 6.2% during trading on Friday . The stock traded as low as $3.29 and last traded at $3.28. Approximately 2,432,510 shares traded hands during trading, a decline of 85% from the average daily volume of 16,536,490 shares. The stock had previously closed at $3.49.

Analysts Set New Price Targets

Several research firms have weighed in on SANA. HC Wainwright boosted their price target on Sana Biotechnology from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. TD Cowen upgraded Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Sana Biotechnology currently has an average rating of “Moderate Buy” and an average price target of $14.25.

Sana Biotechnology Price Performance

The company has a market capitalization of $718.93 million, a price-to-earnings ratio of -2.30 and a beta of 1.45. The business’s 50-day moving average price is $2.56 and its two-hundred day moving average price is $3.87.

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

Insider Buying and Selling

In related news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the sale, the insider now directly owns 4,541,511 shares of the company’s stock, valued at approximately $29,474,406.39. The trade was a 6.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC grew its holdings in shares of 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 during the last quarter. The Manufacturers Life Insurance Company boosted its position in Sana Biotechnology by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 312,031 shares of the company’s stock worth $1,704,000 after buying an additional 23,157 shares during the period. Algert Global LLC bought a new stake in Sana Biotechnology during the 2nd quarter worth approximately $73,000. Blue Trust Inc. increased its position in Sana Biotechnology by 1,246.6% in the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after acquiring an additional 12,154 shares during the period. Finally, Bristlecone Advisors LLC acquired a new position in shares of Sana Biotechnology during the third quarter worth $208,000. Institutional investors own 88.23% of the company’s stock.

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.