Sana Biotechnology (NASDAQ:SANA) Shares Gap Down - Should You Sell?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $3.25, but opened at $3.15. Sana Biotechnology shares last traded at $3.29, with a volume of 1,449,717 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SANA. JMP Securities cut Sana Biotechnology from an "outperform" rating to a "market perform" rating in a report on Tuesday, November 5th. TD Cowen raised shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 8th. Finally, HC Wainwright increased their target price on shares of Sana Biotechnology from $8.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.25.

Sana Biotechnology Trading Down 2.8 %

The company has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $3.99. The company has a market cap of $705.53 million, a P/E ratio of -2.26 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.01. On average, equities analysts forecast that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Insider Activity

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the transaction, the insider now owns 4,541,511 shares of the company's stock, valued at approximately $29,474,406.39. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 31.10% of the company's stock.

Institutional Trading of Sana Biotechnology

A number of hedge funds have recently bought and sold shares of SANA. Wilmington Savings Fund Society FSB purchased a new position in shares of Sana Biotechnology in the 3rd quarter worth approximately $29,000. Stifel Financial Corp acquired a new stake in Sana Biotechnology in the third quarter worth about $43,000. EP Wealth Advisors LLC purchased a new stake in shares of Sana Biotechnology during the third quarter worth about $45,000. Blue Trust Inc. increased its holdings in shares of Sana Biotechnology by 1,246.6% during the third quarter. Blue Trust Inc. now owns 13,129 shares of the company's stock valued at $55,000 after acquiring an additional 12,154 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at approximately $73,000. 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.