Sana Biotechnology (NASDAQ:SANA) Stock Price Down 4.2%

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on SANA shares. Citigroup upped their price target on Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 9th. 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 report on Friday, August 9th. Finally, Rodman & Renshaw started coverage on shares of Sana Biotechnology in a research note on Wednesday, June 26th. They set a “buy” rating and a $16.00 price target on the stock.

Sana Biotechnology Stock Up 0.7 %

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

Sana Biotechnology (NASDAQ:SANA) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). As a group, research analysts expect that Sana Biotechnology, Inc. will post -1.13 EPS for the current year.

Insider Buying and Selling at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was 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 of the company’s stock, valued at $11,620,333.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 31.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Algert Global LLC acquired a new stake in shares of Sana Biotechnology in the 2nd quarter valued at approximately $73,000. The Manufacturers Life Insurance Company boosted its position in shares of Sana Biotechnology by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 312,031 shares of the company’s stock worth $1,704,000 after purchasing an additional 23,157 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of 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 purchasing an additional 14,430 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Sana Biotechnology by 318.8% in the 2nd quarter. Squarepoint Ops LLC now owns 126,572 shares of the company’s stock valued at $691,000 after purchasing an additional 96,348 shares in the last quarter. Finally, Integral Health Asset Management LLC increased its holdings in shares of Sana Biotechnology by 22.4% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the company’s stock valued at $6,552,000 after purchasing an additional 220,000 shares in the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.