Sana Biotechnology (NASDAQ:SANA) Shares Down 6% – Should You Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price dropped 6% during mid-day trading on Wednesday . The company traded as low as $2.66 and last traded at $2.67. Approximately 550,564 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 2,142,666 shares. The stock had previously closed at $2.84.

Analyst Upgrades and Downgrades

SANA has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Sana Biotechnology in a report on Monday. Citigroup lifted their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JMP Securities lowered Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Sana Biotechnology Price Performance

The company has a 50-day moving average of $4.09 and a 200-day moving average of $5.69.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. Research analysts anticipate that Sana Biotechnology, Inc. will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at Sana Biotechnology

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 stock was 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 $11,620,333.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sana Biotechnology

Several institutional investors have recently bought and sold shares of SANA. Blue Trust Inc. lifted its stake in shares of Sana Biotechnology by 1,246.6% in the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after purchasing an additional 12,154 shares during the period. Algert Global LLC purchased a new position in Sana Biotechnology during the second quarter valued at $73,000. Cornercap Investment Counsel Inc. purchased a new position in Sana Biotechnology during the third quarter valued at $67,000. XTX Topco Ltd purchased a new position in shares of Sana Biotechnology in the second quarter valued at about $100,000. Finally, Dark Forest Capital Management LP increased its holdings in shares of Sana Biotechnology by 112.0% in the second quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock worth $149,000 after purchasing an additional 14,430 shares during the last quarter. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

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.