Sana Biotechnology (NASDAQ:SANA) Shares Down 4.2%

Sana Biotechnology, Inc. (NASDAQ:SANA) dropped 4.2% during mid-day trading on Wednesday . The stock traded as low as $4.03 and last traded at $4.06. Approximately 81,766 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 2,283,130 shares. The stock had previously closed at $4.24.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SANA. Citigroup increased their price target on shares of Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Rodman & Renshaw assumed coverage on Sana Biotechnology in a research report on Wednesday, June 26th. They set a “buy” rating and a $16.00 price objective for the company. Finally, HC Wainwright lowered their price target on shares of Sana Biotechnology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Sana Biotechnology Stock Up 0.7 %

The stock has a market capitalization of $949.95 million, a price-to-earnings ratio of -2.77 and a beta of 1.45. The company has a 50 day moving average of $5.09 and a 200 day moving average of $6.77.

Sana Biotechnology (NASDAQ:SANA) last released its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). On average, research analysts forecast that Sana Biotechnology, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total transaction of $612,000.00. Following the completion of the sale, the director now directly owns 2,848,121 shares in the company, valued at $11,620,333.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Sana Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Algert Global LLC purchased a new position in Sana Biotechnology in the 2nd quarter worth approximately $73,000. XTX Topco Ltd acquired a new position in shares of Sana Biotechnology during the second quarter worth $100,000. Hartline Investment Corp acquired a new stake in Sana Biotechnology during the 1st quarter valued at $136,000. Dark Forest Capital Management LP increased its stake in Sana Biotechnology by 112.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock worth $149,000 after buying an additional 14,430 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sana Biotechnology by 20.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,858 shares of the company’s stock worth $163,000 after buying an additional 5,090 shares in the last quarter. 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.