Sana Biotechnology (NASDAQ:SANA) Trading Down 8.5% - What's Next?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) fell 8.5% during mid-day trading on Tuesday . The company traded as low as $2.28 and last traded at $2.21. 165,731 shares traded hands during trading, a decline of 95% from the average session volume of 3,057,026 shares. The stock had previously closed at $2.42.

Analysts Set New Price Targets

A number of research analysts recently commented on SANA shares. Jefferies Financial Group started coverage on Sana Biotechnology in a report on Friday, March 14th. They issued a "buy" rating and a $7.00 price objective on the stock. Citizens Jmp raised Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price target on the stock in a research note on Tuesday, March 18th. TD Cowen raised Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $11.00 target price on shares of Sana Biotechnology in a research report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.80.

Sana Biotechnology Price Performance

The firm has a market capitalization of $384.79 million, a price-to-earnings ratio of -1.22 and a beta of 1.63. The stock has a 50 day moving average price of $2.80 and a two-hundred day moving average price of $3.05.

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Sana Biotechnology (NASDAQ:SANA - Get Free Report) last released its earnings results on Monday, March 17th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02. As a group, research analysts expect that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Fmr Llc sold 290,912 shares of the business's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the completion of the transaction, the insider now directly owns 4,541,511 shares of the company's stock, valued at $29,474,406.39. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds and other institutional investors have recently made changes to their positions in SANA. Cerity Partners LLC acquired a new stake in Sana Biotechnology in the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC raised its holdings in shares of Sana Biotechnology by 229.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock valued at $25,000 after purchasing an additional 10,548 shares in the last quarter. Syon Capital LLC purchased a new stake in shares of Sana Biotechnology during the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sana Biotechnology during the third quarter worth $29,000. Finally, Ameriprise Financial Inc. purchased a new position in Sana Biotechnology in the fourth quarter valued at $29,000. 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.