Sana Biotechnology (NASDAQ:SANA) Trading Down 7% – What’s Next?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) traded down 7% during mid-day trading on Tuesday . The company traded as low as $2.65 and last traded at $2.65. 849,192 shares were traded during trading, a decline of 60% from the average session volume of 2,128,477 shares. The stock had previously closed at $2.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup increased their target price on Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JMP Securities downgraded shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Sana Biotechnology in a research note on Wednesday, November 27th.

Sana Biotechnology Stock Performance

The stock has a market capitalization of $526.92 million, a P/E ratio of -1.73 and a beta of 1.33. The company’s fifty day simple moving average is $3.43 and its two-hundred day simple moving average is $4.98.

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

Insider Activity at Sana Biotechnology

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total value of $612,000.00. Following the transaction, the director now directly owns 2,848,121 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Sana Biotechnology by 20.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,858 shares of the company’s stock valued at $163,000 after buying an additional 5,090 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Sana Biotechnology by 17.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,196 shares of the company’s stock valued at $146,000 after buying an additional 5,338 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sana Biotechnology by 2.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,899 shares of the company’s stock valued at $1,056,000 after buying an additional 6,823 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Sana Biotechnology in the 3rd quarter valued at about $29,000. Finally, Arizona State Retirement System increased its holdings in Sana Biotechnology by 36.7% in the 2nd quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock valued at $202,000 after buying an additional 9,940 shares during the period. 88.23% of the stock is owned by 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.