Sana Biotechnology (NASDAQ:SANA) Stock Price Down 5.5% – What’s Next?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) dropped 5.5% on Wednesday . The stock traded as low as $3.32 and last traded at $3.43. Approximately 2,229,711 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 27,671,803 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

SANA has been the topic of several research analyst reports. JMP Securities cut Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. TD Cowen raised Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, HC Wainwright boosted their price objective on Sana Biotechnology from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Sana Biotechnology Trading Down 15.8 %

The business has a 50-day moving average price of $2.42 and a 200 day moving average price of $4.01. The stock has a market cap of $725.63 million, a PE ratio of -2.32 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. On average, equities analysts predict 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 business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the sale, the insider now directly owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 31.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Sana Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in SANA. Rhumbline Advisers raised its stake in shares of Sana Biotechnology by 16.0% during the 2nd quarter. Rhumbline Advisers now owns 181,903 shares of the company’s stock valued at $993,000 after purchasing an additional 25,056 shares during the period. Arizona State Retirement System increased its stake in Sana Biotechnology by 36.7% in the 2nd quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock worth $202,000 after acquiring an additional 9,940 shares during the last quarter. XTX Topco Ltd bought a new position in Sana Biotechnology in the 2nd quarter worth about $100,000. Ensign Peak Advisors Inc bought a new position in Sana Biotechnology in the 2nd quarter worth about $372,000. Finally, Integral Health Asset Management LLC increased its stake in Sana Biotechnology by 22.4% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company’s stock worth $6,552,000 after acquiring an additional 220,000 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors.

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.