Sana Biotechnology (NASDAQ:SANA) Shares Down 5.5% - Here's What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price was down 5.5% during mid-day trading on Wednesday . The stock traded as low as $3.32 and last traded at $3.43. Approximately 2,229,711 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 27,671,803 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SANA. JMP Securities downgraded shares of Sana Biotechnology from an "outperform" rating to a "market perform" rating in a report on Tuesday, November 5th. 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 note on Wednesday, January 8th. Finally, TD Cowen raised Sana Biotechnology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $14.25.

Sana Biotechnology Trading Up 6.3 %

The company has a market capitalization of $861.82 million, a PE ratio of -2.76 and a beta of 1.45. The firm's 50-day simple moving average is $2.40 and its 200-day simple moving average is $4.02.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. As a group, analysts anticipate that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Insider Activity

In other news, insider Fmr Llc sold 290,912 shares of the stock in a transaction that occurred on 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 directly owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Barclays PLC increased its holdings in shares of Sana Biotechnology by 126.6% in the 3rd quarter. Barclays PLC now owns 318,910 shares of the company's stock valued at $1,325,000 after acquiring an additional 178,179 shares during the period. FMR LLC grew its stake in Sana Biotechnology by 16.3% in the third quarter. FMR LLC now owns 31,609,175 shares of the company's stock valued at $131,494,000 after purchasing an additional 4,438,949 shares during the last quarter. Geode Capital Management LLC grew its stake in Sana Biotechnology by 9.6% in the third quarter. Geode Capital Management LLC now owns 3,166,480 shares of the company's stock valued at $13,175,000 after purchasing an additional 276,055 shares during the last quarter. Stifel Financial Corp bought a new position in Sana Biotechnology in the third quarter worth about $43,000. Finally, Integral Health Asset Management LLC lifted its position in shares of Sana Biotechnology by 22.4% during the second quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company's stock valued at $6,552,000 after buying an additional 220,000 shares during the last quarter. Hedge funds and other 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.