Sana Biotechnology (NASDAQ:SANA) Shares Down 6.7% – Time to Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA) traded down 6.7% during trading on Thursday . The company traded as low as $2.35 and last traded at $2.36. 337,198 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 2,139,325 shares. The stock had previously closed at $2.53.

Analysts Set New Price Targets

A number of brokerages have weighed in on SANA. JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Sana Biotechnology in a research report on Monday, November 11th. Finally, Citigroup lifted their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Sana Biotechnology Trading Down 4.3 %

The firm has a market cap of $540.31 million, a PE ratio of -1.69 and a beta of 1.44. The firm has a 50 day moving average price of $3.77 and a 200-day moving average price of $5.42.

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

Insider Buying and Selling at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 2,848,121 shares in the company, valued at $11,620,333.68. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 31.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sana Biotechnology

A number of hedge funds have recently modified their holdings of SANA. Stifel Financial Corp acquired a new stake in Sana Biotechnology during the 3rd quarter worth $43,000. EP Wealth Advisors LLC acquired a new position in Sana Biotechnology in the 3rd quarter valued at about $45,000. Blue Trust Inc. raised its stake in Sana Biotechnology by 1,246.6% during the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after acquiring an additional 12,154 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Sana Biotechnology during the 3rd quarter worth approximately $67,000. Finally, Algert Global LLC purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at approximately $73,000. 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.