Sana Biotechnology (NASDAQ:SANA) Stock Price Down 7.5% - Here's What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) fell 7.5% during trading on Friday . The stock traded as low as $3.03 and last traded at $3.02. 789,387 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 13,791,444 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. HC Wainwright raised their price target on shares of Sana Biotechnology from $8.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. TD Cowen raised shares of Sana Biotechnology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, JMP Securities cut Sana Biotechnology from an "outperform" rating to a "market perform" rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Sana Biotechnology presently has an average rating of "Moderate Buy" and an average target price of $14.25.

Sana Biotechnology Price Performance

The company has a market capitalization of $616.23 million, a price-to-earnings ratio of -1.97 and a beta of 1.60. The stock has a 50-day moving average price of $2.63 and a 200-day moving average price of $3.68.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01. Equities analysts forecast that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Insider Activity

In related news, insider Fmr Llc sold 290,912 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the sale, the insider now owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 31.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SANA. Blue Trust Inc. lifted its stake 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 purchasing an additional 12,154 shares during the last quarter. Bristlecone Advisors LLC bought a new position in Sana Biotechnology in the third quarter valued at about $208,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Sana Biotechnology by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 42,787 shares of the company's stock valued at $178,000 after purchasing an additional 16,764 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Sana Biotechnology during the third quarter worth about $67,000. Finally, Intech Investment Management LLC acquired a new position in shares of Sana Biotechnology in the third quarter valued at approximately $240,000. 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.