Sana Biotechnology (NASDAQ:SANA) Stock Price Down 8.7% - Should You Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) fell 8.7% on Thursday . The company traded as low as $2.65 and last traded at $2.67. 1,411,466 shares changed 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 Upgrades and Downgrades

Several research firms have recently commented on SANA. Jefferies Financial Group began coverage on Sana Biotechnology in a research report on Friday. They issued a "buy" rating and a $7.00 target price on the stock. HC Wainwright upped their target price on Sana Biotechnology from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, TD Cowen raised Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Sana Biotechnology presently has a consensus rating of "Moderate Buy" and an average price target of $12.25.

Sana Biotechnology Stock Up 10.6 %

The firm has a market capitalization of $654.18 million, a P/E ratio of -2.09 and a beta of 1.63. The firm has a 50 day moving average of $3.03 and a 200-day moving average of $3.27.

Insider Activity at Sana Biotechnology

In related news, insider Fmr Llc sold 290,912 shares of the business'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 value of $1,888,018.88. Following the completion of the sale, the insider now directly owns 4,541,511 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 31.10% of the stock is currently owned by corporate insiders.

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Institutional Investors Weigh In On Sana Biotechnology

Several institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC bought a new stake in Sana Biotechnology during the fourth quarter worth $25,000. Tower Research Capital LLC TRC lifted its stake in Sana Biotechnology by 229.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock worth $25,000 after purchasing an additional 10,548 shares during the last quarter. Syon Capital LLC bought a new stake in Sana Biotechnology during the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new stake in Sana Biotechnology during the third quarter worth $29,000. Finally, Ameriprise Financial Inc. bought a new stake in Sana Biotechnology during the fourth quarter worth $29,000. 88.23% of the stock is currently owned by institutional investors.

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.