Sana Biotechnology (NASDAQ:SANA) Shares Down 8.5% – Should You Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price was down 8.5% on Tuesday . The stock traded as low as $2.28 and last traded at $2.21. Approximately 165,731 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 3,057,026 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

SANA has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on Sana Biotechnology in a report on Friday, March 14th. They set a “buy” rating and a $7.00 target price on the stock. Citizens Jmp raised shares of Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research note on Tuesday, March 18th. 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 restated a “buy” rating and issued a $11.00 price target on shares of Sana Biotechnology in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.80.

Sana Biotechnology Price Performance

The firm’s fifty day simple moving average is $2.93 and its 200 day simple moving average is $3.11. The company has a market capitalization of $487.18 million, a price-to-earnings ratio of -1.55 and a beta of 1.63.

Sana Biotechnology (NASDAQ:SANA) last released its earnings results on Monday, March 17th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02. Equities research analysts forecast that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Sana Biotechnology

In other Sana Biotechnology news, insider Fmr Llc sold 290,912 shares of the business’s stock in a transaction dated 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 transaction, the insider now 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 document filed with the SEC, which is available through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

Several large investors have recently made changes to their positions in SANA. Cerity Partners LLC bought a new stake in Sana Biotechnology in the fourth quarter worth approximately $25,000. Tower Research Capital LLC TRC lifted its stake in shares of Sana Biotechnology by 229.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company’s stock valued at $25,000 after purchasing an additional 10,548 shares during the last quarter. Syon Capital LLC bought a new stake in Sana Biotechnology in the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new position in Sana Biotechnology during the third quarter valued at about $29,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Sana Biotechnology in the fourth quarter worth about $29,000. 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.