JMP Securities Downgrades Sana Biotechnology (NASDAQ:SANA) to Market Perform

Sana Biotechnology (NASDAQ:SANA - Get Free Report) was downgraded by analysts at JMP Securities from an "outperform" rating to a "market perform" rating in a report released on Tuesday, Marketbeat reports.

Other research analysts have also recently issued research reports about the company. Citigroup raised their target price on Sana Biotechnology from $8.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, August 9th. HC Wainwright decreased 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.

Sana Biotechnology Stock Down 9.8 %

SANA traded down $0.37 on Tuesday, hitting $3.39. The company's stock had a trading volume of 3,652,025 shares, compared to its average volume of 2,153,897. The firm has a market cap of $754.17 million, a P/E ratio of -2.95 and a beta of 1.44. Sana Biotechnology has a 12 month low of $2.85 and a 12 month high of $12.00. The company's 50 day simple moving average is $4.42 and its 200-day simple 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 for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.04). Equities analysts predict that Sana Biotechnology will post -1.13 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 company's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total transaction of $612,000.00. Following the sale, the director now directly owns 2,848,121 shares in the company, valued at approximately $11,620,333.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.10% of the company's stock.

Hedge Funds Weigh In On Sana Biotechnology

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Sana Biotechnology by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company's stock valued at $121,552,000 after buying an additional 2,358,089 shares in the last quarter. Capital World Investors lifted its stake in shares of Sana Biotechnology by 255.8% during the first quarter. Capital World Investors now owns 5,449,035 shares of the company's stock worth $54,490,000 after buying an additional 3,917,728 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Sana Biotechnology by 2.8% during 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. Baker BROS. Advisors LP increased its position in shares of Sana Biotechnology by 19.0% in the 1st quarter. Baker BROS. Advisors LP now owns 2,380,949 shares of the company's stock valued at $23,809,000 after acquiring an additional 380,949 shares during the period. Finally, Integral Health Asset Management LLC increased its holdings in shares of Sana Biotechnology by 22.4% in the second quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company's stock valued at $6,552,000 after purchasing an additional 220,000 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.