Sana Biotechnology (NASDAQ:SANA) Stock Price Down 6.4% – What’s Next?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) were down 6.4% on Monday . The company traded as low as $3.96 and last traded at $3.96. Approximately 422,683 shares changed hands during trading, a decline of 81% from the average daily volume of 2,202,793 shares. The stock had previously closed at $4.23.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SANA shares. HC Wainwright dropped their price target on Sana Biotechnology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th. Rodman & Renshaw initiated coverage on Sana Biotechnology in a report on Wednesday, June 26th. They set a “buy” rating and a $16.00 price target for the company. Finally, Citigroup increased their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 9th.

Sana Biotechnology Stock Performance

The firm has a market capitalization of $870.51 million, a P/E ratio of -2.59 and a beta of 1.42. The company has a 50-day moving average price of $4.74 and a 200-day moving average price of $6.29.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Equities analysts predict that Sana Biotechnology, Inc. will post -1.13 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard Mulligan sold 150,000 shares of the firm’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 owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 31.10% of the stock is currently owned by company insiders.

Institutional Trading of Sana Biotechnology

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of 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 purchasing an additional 12,154 shares during the period. Algert Global LLC acquired a new stake in shares of Sana Biotechnology in the 2nd quarter valued at about $73,000. Hartline Investment Corp acquired a new stake in shares of Sana Biotechnology in the 1st quarter valued at about $136,000. XTX Topco Ltd acquired a new stake in shares of Sana Biotechnology in the 2nd quarter valued at about $100,000. Finally, Dark Forest Capital Management LP raised its stake in shares of Sana Biotechnology by 112.0% in the 2nd quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock valued at $149,000 after purchasing an additional 14,430 shares during the period. 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.