Sana Biotechnology (NASDAQ:SANA) Stock Price Down 6.6% - Here's Why

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares were down 6.6% on Tuesday . The stock traded as low as $3.64 and last traded at $3.66. Approximately 377,405 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,164,994 shares. The stock had previously closed at $3.92.

Wall Street Analysts Forecast Growth

SANA has been the subject of a number of recent analyst reports. HC Wainwright dropped their price objective on Sana Biotechnology from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Citigroup upped their price objective on Sana Biotechnology from $8.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, August 9th.

Sana Biotechnology Stock Performance

The company has a market cap of $840.94 million, a PE ratio of -3.29 and a beta of 1.42. The stock has a 50 day moving average of $4.59 and a 200-day moving average of $6.03.

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

Insider Transactions at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of the company'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 completion of the sale, the director now owns 2,848,121 shares in the company, valued at $11,620,333.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 31.10% of the company's stock.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its position in shares of Sana Biotechnology by 64.4% in the third 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 in the last quarter. Bristlecone Advisors LLC acquired a new stake in Sana Biotechnology during the 3rd quarter worth approximately $208,000. Blue Trust Inc. increased its position in shares of Sana Biotechnology by 1,246.6% in the third quarter. Blue Trust Inc. now owns 13,129 shares of the company's stock worth $55,000 after acquiring an additional 12,154 shares in the last quarter. Algert Global LLC purchased a new position in Sana Biotechnology in the second quarter valued at about $73,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Sana Biotechnology by 8.0% during the 2nd 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 period. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.