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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SANA. TD Cowen raised Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. JMP Securities lowered Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, HC Wainwright upped their price target on Sana Biotechnology from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Sana Biotechnology has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Sana Biotechnology Stock Performance

The company has a market capitalization of $718.93 million, a P/E ratio of -2.30 and a beta of 1.45. The company has a 50-day simple moving average of $2.56 and a 200 day simple moving average of $3.87.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings data 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, sell-side analysts forecast that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Insider Activity

In other news, insider Fmr Llc sold 290,912 shares of the firm’s 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 completion of the sale, the insider now owns 4,541,511 shares of the company’s stock, valued at approximately $29,474,406.39. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 31.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sana Biotechnology

Institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC raised its holdings in Sana Biotechnology by 318.8% during the 2nd 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 increased its position in shares of Sana Biotechnology by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 312,031 shares of the company’s stock valued at $1,704,000 after buying an additional 23,157 shares in the last quarter. Algert Global LLC bought a new stake in Sana Biotechnology during the 2nd quarter worth approximately $73,000. Blue Trust Inc. boosted its stake in Sana Biotechnology by 1,246.6% in 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 period. Finally, Bristlecone Advisors LLC bought a new position in Sana Biotechnology during the 3rd quarter worth about $208,000. Institutional investors and hedge funds 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.