Sana Biotechnology (NASDAQ:SANA) Hits New 52-Week Low on Analyst Downgrade

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares reached a new 52-week low during trading on Tuesday after HC Wainwright lowered their price target on the stock from $11.00 to $8.00. HC Wainwright currently has a buy rating on the stock. Sana Biotechnology traded as low as $2.85 and last traded at $3.04, with a volume of 399262 shares trading hands. The stock had previously closed at $3.76.

Other equities analysts have also issued reports about the company. JMP Securities lowered Sana Biotechnology from an "outperform" rating to a "market perform" rating in a report on Tuesday. Citigroup upped their price target on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, August 9th.

Insider Buying and Selling

In related news, Director Richard Mulligan sold 150,000 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total value of $612,000.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SANA. China Universal Asset Management Co. Ltd. lifted its position in Sana Biotechnology by 64.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 42,787 shares of the company's stock valued at $178,000 after acquiring an additional 16,764 shares during the period. Bristlecone Advisors LLC bought a new position in Sana Biotechnology in the 3rd quarter worth about $208,000. Blue Trust Inc. increased its stake in Sana Biotechnology by 1,246.6% during 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 in the last quarter. Algert Global LLC bought a new position in shares of Sana Biotechnology in the second quarter worth approximately $73,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Sana Biotechnology by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 312,031 shares of the company's stock valued at $1,704,000 after buying an additional 23,157 shares during the last quarter. 88.23% of the stock is owned by institutional investors.

Sana Biotechnology Price Performance

The company has a market cap of $754.17 million, a P/E ratio of -2.95 and a beta of 1.44. The company's 50-day moving average is $4.42 and its two-hundred day moving average is $5.90.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last released 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 research analysts anticipate that Sana Biotechnology, Inc. will post -1.13 EPS for the current year.

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.