Sana Biotechnology (NASDAQ:SANA) Issues Earnings Results, Beats Estimates By $0.02 EPS

Sana Biotechnology (NASDAQ:SANA) released its quarterly earnings results on Monday. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02, Zacks reports.

Sana Biotechnology Stock Down 19.7 %

Shares of Sana Biotechnology stock traded down $0.55 during trading on Tuesday, reaching $2.23. The company’s stock had a trading volume of 4,178,711 shares, compared to its average volume of 2,988,203. Sana Biotechnology has a 12-month low of $1.52 and a 12-month high of $10.50. The company has a market capitalization of $496.77 million, a P/E ratio of -1.58 and a beta of 1.63. The business has a 50 day moving average price of $3.05 and a 200-day moving average price of $3.23.

Analysts Set New Price Targets

Several research analysts have weighed in on SANA shares. Citizens Jmp upgraded Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research note on Tuesday. TD Cowen upgraded Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. Jefferies Financial Group started coverage on Sana Biotechnology in a research note on Friday. They issued a “buy” rating and a $7.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Sana Biotechnology in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.80.

Insider Activity at Sana Biotechnology

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 value of $1,888,018.88. Following the sale, the insider now directly owns 4,541,511 shares in the company, valued at $29,474,406.39. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.10% of the company’s stock.

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.