Sana Biotechnology (NASDAQ:SANA) Shares Down 3.8%

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s stock price fell 3.8% during trading on Thursday . The company traded as low as $7.89 and last traded at $7.95. 182,037 shares changed hands during trading, a decline of 94% from the average session volume of 3,074,527 shares. The stock had previously closed at $8.26.

Analyst Ratings Changes

A number of research firms have recently commented on SANA. JMP Securities raised their target price on Sana Biotechnology from $8.00 to $15.00 and gave the company a "market outperform" rating in a research 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 report on Friday, March 1st.

Sana Biotechnology Trading Down 6.4 %

The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -5.23 and a beta of 1.61. The company has a fifty day moving average of $8.92 and a 200-day moving average of $5.90.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.03. During the same period last year, the firm earned ($0.40) earnings per share. As a group, equities research analysts expect that Sana Biotechnology, Inc. will post -1.02 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert Nelsen acquired 1,818,181 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average cost of $5.50 per share, for a total transaction of $9,999,995.50. Following the acquisition, 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 Securities & Exchange Commission, which is available through this hyperlink. 34.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SANA. State Street Corp boosted its holdings in shares of Sana Biotechnology by 102.2% during the 1st quarter. State Street Corp now owns 7,150,930 shares of the company's stock worth $59,067,000 after purchasing an additional 3,614,591 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Sana Biotechnology by 41.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,891,581 shares of the company's stock valued at $18,593,000 after buying an additional 841,448 shares during the period. Vanguard Group Inc. raised its position in shares of Sana Biotechnology by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,839,881 shares of the company's stock valued at $53,040,000 after buying an additional 787,470 shares during the period. Renaissance Technologies LLC raised its position in shares of Sana Biotechnology by 1,367.2% during the 1st quarter. Renaissance Technologies LLC now owns 840,700 shares of the company's stock valued at $6,944,000 after buying an additional 783,400 shares during the period. Finally, State of Michigan Retirement System purchased a new stake in shares of Sana Biotechnology during the 3rd quarter valued at approximately $2,663,000. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.