Sana Biotechnology (NASDAQ:SANA) Trading Down 6.6% – Should You Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price fell 6.6% during mid-day trading on Tuesday . The company traded as low as $3.64 and last traded at $3.66. 377,405 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 2,164,994 shares. The stock had previously closed at $3.92.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SANA shares. HC Wainwright dropped their target price on shares of Sana Biotechnology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup lifted their price objective on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 9th.

Sana Biotechnology Trading Down 4.4 %

The firm has a market cap of $778.63 million, a PE ratio of -3.15 and a beta of 1.42. The firm has a 50 day moving average price of $4.55 and a 200-day moving average price of $6.02.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Equities analysts forecast that Sana Biotechnology, Inc. will post -1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard Mulligan sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total transaction of $612,000.00. Following the completion of the sale, the director now owns 2,848,121 shares in the company, valued at approximately $11,620,333.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 31.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SANA. Vanguard Group Inc. boosted its holdings in shares of Sana Biotechnology by 24.1% in the first quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company’s stock valued at $121,552,000 after acquiring an additional 2,358,089 shares during the period. Baillie Gifford & Co. grew its position in Sana Biotechnology by 5.0% during the 1st quarter. Baillie Gifford & Co. now owns 10,656,279 shares of the company’s stock worth $106,563,000 after purchasing an additional 506,262 shares during the last quarter. Capital World Investors increased its stake in Sana Biotechnology by 255.8% in the first quarter. Capital World Investors now owns 5,449,035 shares of the company’s stock valued at $54,490,000 after purchasing an additional 3,917,728 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Sana Biotechnology by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,695,459 shares of the company’s stock valued at $36,956,000 after buying an additional 101,434 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its stake in shares of Sana Biotechnology by 19.0% during the first quarter. Baker BROS. Advisors LP now owns 2,380,949 shares of the company’s stock worth $23,809,000 after buying an additional 380,949 shares during the period. Hedge funds and other institutional investors own 88.23% of the company’s stock.

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.