Sana Biotechnology (NASDAQ:SANA) Trading Down 8.7% - Here's Why

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) dropped 8.7% during mid-day trading on Thursday . The stock traded as low as $2.65 and last traded at $2.67. Approximately 1,411,466 shares were traded during trading, a decline of 52% from the average daily volume of 2,960,704 shares. The stock had previously closed at $2.92.

Wall Street Analyst Weigh In

SANA has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Sana Biotechnology in a research note on Friday. They set a "buy" rating and a $7.00 price objective for the company. HC Wainwright upped their price target on shares of Sana Biotechnology from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, TD Cowen raised shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.25.

Sana Biotechnology Trading Up 10.6 %

The stock has a market capitalization of $654.18 million, a PE ratio of -2.09 and a beta of 1.63. The business's 50-day moving average is $3.03 and its two-hundred day moving average is $3.29.

Insiders Place Their Bets

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

Remove Ads

Hedge Funds Weigh In On Sana Biotechnology

Several large investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Sana Biotechnology by 16.3% during the third quarter. FMR LLC now owns 31,609,175 shares of the company's stock worth $131,494,000 after purchasing an additional 4,438,949 shares during the last quarter. State Street Corp lifted its position in shares of Sana Biotechnology by 4.2% during the third quarter. State Street Corp now owns 6,627,320 shares of the company's stock worth $27,570,000 after purchasing an additional 269,274 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sana Biotechnology by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 3,193,081 shares of the company's stock worth $5,206,000 after purchasing an additional 26,601 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Sana Biotechnology by 7.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,108,617 shares of the company's stock worth $5,068,000 after purchasing an additional 219,498 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its holdings in Sana Biotechnology by 11.1% in the fourth quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company's stock worth $3,260,000 after acquiring an additional 200,000 shares during the last quarter. Institutional investors own 88.23% of the company's stock.

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.