Sana Biotechnology (NASDAQ:SANA) Shares Down 8.9% – Should You Sell?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) fell 8.9% on Tuesday . The company traded as low as $2.62 and last traded at $2.63. 1,856,932 shares were traded during trading, a decline of 82% from the average session volume of 10,442,958 shares. The stock had previously closed at $2.88.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. TD Cowen upgraded Sana Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright raised their price objective on shares of Sana Biotechnology from $8.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, JMP Securities lowered shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.25.

Sana Biotechnology Stock Down 9.5 %

The firm has a market cap of $581.62 million, a P/E ratio of -1.86 and a beta of 1.60. The business’s 50 day moving average is $2.76 and its two-hundred day moving average is $3.51.

Insider Buying and Selling

In related news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction that occurred 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 transaction, the insider now owns 4,541,511 shares of the company’s stock, valued at $29,474,406.39. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 31.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Sana Biotechnology in the third quarter worth about $29,000. Stifel Financial Corp purchased a new stake in shares of Sana Biotechnology in the third quarter worth about $43,000. EP Wealth Advisors LLC purchased a new stake in Sana Biotechnology in the 3rd quarter worth approximately $45,000. Blue Trust Inc. boosted its stake in Sana Biotechnology by 1,246.6% during the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after buying an additional 12,154 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Sana Biotechnology by 229.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company’s stock worth $25,000 after purchasing an additional 10,548 shares during the last quarter. 88.23% of the stock is currently owned by hedge funds and other 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.