Sana Biotechnology (NASDAQ:SANA) Trading Down 6.5% – Should You Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price traded down 6.5% on Tuesday . The company traded as low as $2.97 and last traded at $2.96. 4,539,054 shares were traded during mid-day trading, a decline of 81% from the average session volume of 23,432,320 shares. The stock had previously closed at $3.16.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen upgraded shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. JMP Securities lowered shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, HC Wainwright raised their price target on Sana Biotechnology from $8.00 to $11.00 and gave the company a “buy” rating in a research report 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.25.

Sana Biotechnology Stock Down 0.3 %

The company’s fifty day simple moving average is $2.46 and its two-hundred day simple moving average is $3.94. The company has a market capitalization of $779.21 million, a price-to-earnings ratio of -2.49 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA) last announced its 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 -1.16 earnings per share for the current year.

Insider Activity at Sana Biotechnology

In related news, insider Fmr Llc sold 290,912 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total value of $1,888,018.88. Following the transaction, the insider now owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This represents a 6.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 31.10% of the stock is currently owned by company insiders.

Institutional Trading of Sana Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in Sana Biotechnology in the third quarter valued at about $29,000. Blue Trust Inc. boosted its stake in shares of Sana Biotechnology by 51.0% in the 4th quarter. Blue Trust Inc. now owns 19,823 shares of the company’s stock valued at $32,000 after purchasing an additional 6,694 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of Sana Biotechnology during the 3rd quarter valued at approximately $43,000. EP Wealth Advisors LLC acquired a new position in Sana Biotechnology during the 3rd quarter worth approximately $45,000. Finally, Cornercap Investment Counsel Inc. bought a new position in Sana Biotechnology in the 3rd quarter valued at approximately $67,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

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.