Sana Biotechnology (NASDAQ:SANA) Trading Down 8.5% – Here’s What Happened

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) dropped 8.5% on Tuesday . The company traded as low as $2.28 and last traded at $2.21. Approximately 165,731 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 3,057,026 shares. The stock had previously closed at $2.42.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SANA. TD Cowen raised shares of Sana Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. Citizens Jmp raised Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Tuesday, March 18th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Sana Biotechnology in a research note on Tuesday, March 18th. Finally, Jefferies Financial Group initiated coverage on Sana Biotechnology in a research note on Friday, March 14th. They set a “buy” rating and a $7.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.80.

Sana Biotechnology Trading Down 15.8 %

The firm’s fifty day simple moving average is $2.86 and its 200 day simple moving average is $3.08. The company has a market cap of $407.30 million, a price-to-earnings ratio of -1.29 and a beta of 1.63.

Sana Biotechnology (NASDAQ:SANA) last issued its earnings results on Monday, March 17th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. As a group, sell-side analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Insider Transactions at Sana Biotechnology

In other Sana Biotechnology 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 transaction of $1,888,018.88. Following the sale, the insider now owns 4,541,511 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SANA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Sana Biotechnology by 10.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,282 shares of the company’s stock valued at $455,000 after acquiring an additional 25,383 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Sana Biotechnology by 42.3% in the 4th quarter. Vident Advisory LLC now owns 43,291 shares of the company’s stock valued at $71,000 after purchasing an additional 12,861 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Sana Biotechnology by 45.3% in the 4th quarter. Squarepoint Ops LLC now owns 178,431 shares of the company’s stock valued at $291,000 after purchasing an additional 55,625 shares during the period. Two Sigma Advisers LP grew its stake in Sana Biotechnology by 677.0% during the 4th quarter. Two Sigma Advisers LP now owns 209,000 shares of the company’s stock worth $341,000 after buying an additional 182,100 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in Sana Biotechnology by 228.4% during the fourth quarter. Two Sigma Investments LP now owns 480,298 shares of the company’s stock worth $783,000 after buying an additional 334,042 shares during the period. 88.23% of the stock is 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.