Sana Biotechnology (NASDAQ:SANA) Shares Down 6.2% - Time to Sell?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) were down 6.2% during mid-day trading on Friday . The stock traded as low as $3.29 and last traded at $3.28. Approximately 2,432,510 shares were traded during trading, a decline of 85% from the average daily volume of 16,536,490 shares. The stock had previously closed at $3.49.

Analyst Upgrades and Downgrades

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

Sana Biotechnology Trading Up 3.6 %

The firm's 50 day moving average is $2.60 and its two-hundred day moving average is $3.77. The firm has a market cap of $707.76 million, a P/E ratio of -2.26 and a beta of 1.59.

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

Insider Activity

In other news, insider Fmr Llc sold 290,912 shares of the company'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 sale, the insider now directly owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This represents a 6.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Sana Biotechnology during the third quarter worth about $29,000. Blue Trust Inc. increased its position in Sana Biotechnology by 51.0% during the fourth quarter. Blue Trust Inc. now owns 19,823 shares of the company's stock worth $32,000 after buying an additional 6,694 shares during the period. Ieq Capital LLC acquired a new position in shares of Sana Biotechnology in the fourth quarter valued at approximately $32,000. Stifel Financial Corp purchased a new position in shares of Sana Biotechnology during the 3rd quarter worth approximately $43,000. Finally, EP Wealth Advisors LLC purchased a new position in Sana Biotechnology in the 3rd quarter valued at approximately $45,000. 88.23% of the stock is owned by institutional investors and hedge funds.

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.