Sana Biotechnology (NASDAQ:SANA) Shares Down 6.7% – Here’s What Happened

by · The Markets Daily

Sana Biotechnology, Inc. (NASDAQ:SANA – Get Free Report)’s stock price dropped 6.7% during trading on Thursday . The stock traded as low as $2.35 and last traded at $2.36. Approximately 337,198 shares were traded during trading, a decline of 84% from the average daily volume of 2,139,325 shares. The stock had previously closed at $2.53.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Sana Biotechnology in a research note on Monday, November 11th. Citigroup boosted their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, JMP Securities lowered Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th.

Get Our Latest Report on Sana Biotechnology

Sana Biotechnology Stock Performance

The company has a 50 day moving average of $3.77 and a two-hundred day moving average of $5.42. The stock has a market capitalization of $540.31 million, a PE ratio of -1.69 and a beta of 1.44.

Sana Biotechnology (NASDAQ:SANA – Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. As a group, research analysts predict that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the 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 approximately $11,620,333.68. This represents a 5.00 % decrease in their ownership of the stock. The sale 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.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds have recently made changes to their positions in the company. Stifel Financial Corp purchased a new position in shares of 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. increased its holdings in shares of Sana Biotechnology by 1,246.6% during the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after buying an additional 12,154 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Sana Biotechnology during the 3rd quarter valued at approximately $67,000. Finally, Algert Global LLC acquired a new position in Sana Biotechnology in the second quarter valued at approximately $73,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

About Sana Biotechnology

(Get Free Report)

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.

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