Sana Biotechnology (NASDAQ:SANA) Shares Down 6.5% – Should You Sell?

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

Analyst Ratings Changes

Several research analysts have weighed in on SANA shares. JMP Securities lowered Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. 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. Finally, TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.25.

Sana Biotechnology Trading Down 7.6 %

The firm has a market capitalization of $651.95 million, a price-to-earnings ratio of -2.09 and a beta of 1.45. The company’s 50 day moving average is $2.42 and its 200-day moving average is $3.96.

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, topping the consensus estimate of ($0.26) by $0.01. Research analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Insider Buying and Selling

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 owned by insiders.

Institutional Trading of Sana Biotechnology

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sana Biotechnology by 17.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,196 shares of the company’s stock worth $146,000 after purchasing an additional 5,338 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sana Biotechnology by 2.8% during the third 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 purchasing an additional 6,823 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sana Biotechnology in the 3rd quarter worth about $29,000. Stifel Financial Corp bought a new stake in shares of Sana Biotechnology in the 3rd quarter worth approximately $43,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Sana Biotechnology in the third quarter worth $45,000. 88.23% of the stock is 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.