Sana Biotechnology (NASDAQ:SANA) Trading Down 8.2% – What’s Next?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price traded down 8.2% during mid-day trading on Thursday . The company traded as low as $3.13 and last traded at $3.13. 1,274,994 shares were traded during mid-day trading, a decline of 41% from the average session volume of 2,148,411 shares. The stock had previously closed at $3.41.

Analyst Upgrades and Downgrades

SANA has been the topic of several research analyst reports. Citigroup lifted their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 9th. HC Wainwright reduced their price objective on Sana Biotechnology from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JMP Securities lowered Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday.

Sana Biotechnology Trading Down 3.1 %

The firm has a market cap of $668.52 million, a price-to-earnings ratio of -2.61 and a beta of 1.44. The stock has a 50-day moving average of $4.21 and a 200-day moving average of $5.80.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). As a group, research analysts expect that Sana Biotechnology, Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Transactions at Sana Biotechnology

In other news, Director Richard Mulligan sold 150,000 shares of the business’s stock in a transaction on 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 directly owns 2,848,121 shares of the company’s stock, valued at $11,620,333.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SANA. Blue Trust Inc. grew its stake in 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 purchasing an additional 12,154 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Sana Biotechnology during the 3rd quarter worth about $67,000. Algert Global LLC bought a new stake in shares of Sana Biotechnology during the 2nd quarter worth about $73,000. XTX Topco Ltd bought a new stake in shares of Sana Biotechnology during the 2nd quarter worth about $100,000. Finally, Dark Forest Capital Management LP boosted its stake in shares of Sana Biotechnology by 112.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock worth $149,000 after acquiring an additional 14,430 shares in the last quarter. 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.