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

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday. Citigroup upped their price target on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, HC Wainwright cut their price target on Sana Biotechnology from $11.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday.

Sana Biotechnology Stock Performance

The stock has a market capitalization of $668.52 million, a P/E ratio of -2.61 and a beta of 1.44. The stock has a 50-day simple moving average of $4.21 and a 200 day simple moving average of $5.80.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Equities analysts predict that Sana Biotechnology, Inc. will post -1.09 earnings per share 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

A number of hedge funds and other institutional investors have recently modified their holdings of SANA. ProShare Advisors LLC grew its holdings in Sana Biotechnology by 14.8% during the first quarter. ProShare Advisors LLC now owns 32,690 shares of the company’s stock worth $327,000 after purchasing an additional 4,210 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sana Biotechnology by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,858 shares of the company’s stock worth $163,000 after purchasing an additional 5,090 shares during the period. Arizona State Retirement System grew its holdings in Sana Biotechnology by 36.7% during the second quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock worth $202,000 after purchasing an additional 9,940 shares during the period. Blue Trust Inc. grew its holdings in Sana Biotechnology by 1,246.6% during the third 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, Algert Global LLC bought a new position in Sana Biotechnology during the second quarter worth about $73,000. 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.