Sana Biotechnology (NASDAQ:SANA) Trading Down 7.5% – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA) shares were down 7.5% during mid-day trading on Friday . The stock traded as low as $3.03 and last traded at $3.02. Approximately 789,387 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 13,791,444 shares. The stock had previously closed at $3.26.

Analyst Upgrades and Downgrades

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

Sana Biotechnology Stock Down 8.7 %

The firm has a market cap of $664.23 million, a price-to-earnings ratio of -2.13 and a beta of 1.59. The company has a 50-day moving average price of $2.63 and a 200 day moving average price of $3.76.

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

Insider Transactions at Sana Biotechnology

In related news, insider Fmr Llc sold 290,912 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total value of $1,888,018.88. Following the transaction, the insider now owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 31.10% of the stock is owned by insiders.

Institutional Trading of Sana Biotechnology

Several large investors have recently added to or reduced their stakes in SANA. Wilmington Savings Fund Society FSB bought a new position in shares of Sana Biotechnology during the 3rd quarter valued at $29,000. Blue Trust Inc. raised its holdings in shares of Sana Biotechnology by 51.0% during the 4th quarter. Blue Trust Inc. now owns 19,823 shares of the company’s stock valued at $32,000 after purchasing an additional 6,694 shares in the last quarter. Ieq Capital LLC bought a new position in shares of Sana Biotechnology during the 4th quarter valued at $32,000. Stifel Financial Corp bought a new position in shares of Sana Biotechnology during the 3rd quarter valued at $43,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Sana Biotechnology during the 3rd quarter valued at $45,000. 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.