Sana Biotechnology (NASDAQ:SANA) Trading Down 8.7% - What's Next?

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

Analyst Ratings Changes

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

Sana Biotechnology Trading Up 10.6 %

The company has a fifty day simple moving average of $3.03 and a 200-day simple moving average of $3.27. The stock has a market cap of $654.18 million, a price-to-earnings ratio of -2.09 and a beta of 1.63.

Insider Activity at Sana Biotechnology

In other news, insider Fmr Llc sold 290,912 shares of the company's stock in a transaction that occurred 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 in the company, valued at $29,474,406.39. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is currently owned by company insiders.

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Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sana Biotechnology by 10.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,282 shares of the company's stock worth $455,000 after purchasing an additional 25,383 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Sana Biotechnology by 42.3% during the 4th quarter. Vident Advisory LLC now owns 43,291 shares of the company's stock valued at $71,000 after purchasing an additional 12,861 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Sana Biotechnology by 45.3% during the 4th quarter. Squarepoint Ops LLC now owns 178,431 shares of the company's stock valued at $291,000 after purchasing an additional 55,625 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Sana Biotechnology by 677.0% during the 4th quarter. Two Sigma Advisers LP now owns 209,000 shares of the company's stock valued at $341,000 after purchasing an additional 182,100 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Sana Biotechnology by 228.4% during the 4th quarter. Two Sigma Investments LP now owns 480,298 shares of the company's stock valued at $783,000 after purchasing an additional 334,042 shares in the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.