Sana Biotechnology (NASDAQ:SANA) Stock Price Down 6.4% – What’s Next?

by · The Markets Daily

Sana Biotechnology, Inc. (NASDAQ:SANA – Get Free Report) traded down 6.4% during trading on Monday . The company traded as low as $3.96 and last traded at $3.96. 422,683 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,202,793 shares. The stock had previously closed at $4.23.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Rodman & Renshaw assumed coverage on Sana Biotechnology in a research note on Wednesday, June 26th. They issued a “buy” rating and a $16.00 target price on the stock. Citigroup upped their price target on Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, HC Wainwright decreased their price target on Sana Biotechnology from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Read Our Latest Stock Analysis on Sana Biotechnology

Sana Biotechnology Stock Performance

The firm has a 50 day moving average of $4.74 and a two-hundred day moving average of $6.29. The stock has a market cap of $870.51 million, a P/E ratio of -2.59 and a beta of 1.42.

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

Insider Buying and Selling at Sana Biotechnology

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total value of $612,000.00. Following the completion of the transaction, the director now owns 2,848,121 shares of the company’s stock, valued at $11,620,333.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Sana Biotechnology

Several large investors have recently added to or reduced their stakes in SANA. Blue Trust Inc. raised its holdings in Sana Biotechnology by 1,246.6% in the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after acquiring an additional 12,154 shares in the last quarter. Algert Global LLC acquired a new position in Sana Biotechnology in the 2nd quarter valued at approximately $73,000. XTX Topco Ltd acquired a new position in shares of Sana Biotechnology in the 2nd quarter worth approximately $100,000. Hartline Investment Corp acquired a new position in shares of Sana Biotechnology in the 1st quarter worth approximately $136,000. Finally, Dark Forest Capital Management LP raised its holdings in shares of Sana Biotechnology by 112.0% in 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 in the last quarter. Institutional investors and hedge funds own 88.23% of the company’s stock.

About Sana Biotechnology

(Get Free Report)

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.

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