Sana Biotechnology (NASDAQ:SANA) Stock Price Down 3.8%

Sana Biotechnology, Inc. (NASDAQ:SANA) shares dropped 3.8% during mid-day trading on Thursday . The company traded as low as $7.89 and last traded at $7.95. Approximately 182,037 shares were traded during trading, a decline of 94% from the average daily volume of 3,074,527 shares. The stock had previously closed at $8.26.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SANA shares. JMP Securities raised their price target on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “market outperform” rating in a report on Friday, March 1st. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Sana Biotechnology in a research note on Friday, March 1st.

Sana Biotechnology Stock Down 6.9 %

The firm has a market cap of $1.70 billion, a P/E ratio of -5.31 and a beta of 1.61. The business’s 50 day moving average is $8.92 and its 200-day moving average is $5.90.

Sana Biotechnology (NASDAQ:SANA) last issued its earnings results on Thursday, February 29th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. During the same quarter last year, the business posted ($0.40) earnings per share. As a group, equities analysts predict that Sana Biotechnology, Inc. will post -1.02 earnings per share for the current year.

Insider Transactions at Sana Biotechnology

In other news, Director Robert Nelsen purchased 1,818,181 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average cost of $5.50 per share, with a total value of $9,999,995.50. Following the transaction, the director now owns 12,446,022 shares in the company, valued at approximately $68,453,121. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Sana Biotechnology

A number of large investors have recently bought and sold shares of the business. Deutsche Bank AG grew its stake in Sana Biotechnology by 1.8% during the 3rd quarter. Deutsche Bank AG now owns 478,482 shares of the company’s stock worth $1,852,000 after buying an additional 8,408 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Sana Biotechnology in the 3rd quarter valued at about $2,091,000. China Universal Asset Management Co. Ltd. lifted its position in Sana Biotechnology by 351.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,800 shares of the company’s stock valued at $93,000 after purchasing an additional 17,753 shares during the last quarter. Vanguard Group Inc. boosted its stake in Sana Biotechnology by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,167,585 shares of the company’s stock valued at $35,479,000 after purchasing an additional 107,167 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Sana Biotechnology by 10.3% during the third quarter. Citigroup Inc. now owns 145,370 shares of the company’s stock valued at $563,000 after buying an additional 13,616 shares during the last quarter. 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.