Sana Biotechnology (NASDAQ:SANA) Trading Down 6.5% – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of research firms have commented on SANA. HC Wainwright upped 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. TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, JMP Securities lowered shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Sana Biotechnology Stock Performance

The stock has a market cap of $779.21 million, a P/E ratio of -2.49 and a beta of 1.45. The company’s 50 day moving average price is $2.46 and its 200-day moving average price is $3.94.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. On average, analysts forecast that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Activity at Sana Biotechnology

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 value of $1,888,018.88. Following the completion of the transaction, the insider now directly owns 4,541,511 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Sana Biotechnology by 16.3% during the 3rd quarter. FMR LLC now owns 31,609,175 shares of the company’s stock valued at $131,494,000 after acquiring an additional 4,438,949 shares during the last quarter. State Street Corp lifted its position in Sana Biotechnology by 4.2% during the third quarter. State Street Corp now owns 6,627,320 shares of the company’s stock valued at $27,570,000 after purchasing an additional 269,274 shares during the last quarter. Geode Capital Management LLC grew its stake in Sana Biotechnology by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company’s stock worth $13,175,000 after buying an additional 276,055 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Sana Biotechnology by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,047,846 shares of the company’s stock worth $4,359,000 after buying an additional 105,382 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Sana Biotechnology by 126.6% during the 3rd quarter. Barclays PLC now owns 318,910 shares of the company’s stock valued at $1,325,000 after buying an additional 178,179 shares in the last quarter. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

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.