Sana Biotechnology (NASDAQ:SANA) Trading Down 4.5% - Should You Sell?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) traded down 4.5% during mid-day trading on Wednesday . The stock traded as low as $2.87 and last traded at $2.84. 362,778 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 3,662,310 shares. The stock had previously closed at $2.97.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JMP Securities reiterated a "market outperform" rating and issued a $5.00 price target on shares of Sana Biotechnology in a research note on Tuesday. HC Wainwright reiterated a "buy" rating and issued a $11.00 price target on shares of Sana Biotechnology in a research note on Thursday, April 24th. Citizens Jmp upgraded shares of Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price target on the stock in a research note on Tuesday, March 18th. Finally, Jefferies Financial Group started coverage on shares of Sana Biotechnology in a research note on Friday, March 14th. They issued a "buy" rating and a $7.00 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $8.60.

Sana Biotechnology Stock Down 2.1%

The stock has a market capitalization of $633.60 million, a price-to-earnings ratio of -3.19 and a beta of 1.78. The company's fifty day simple moving average is $2.19 and its 200 day simple moving average is $2.35.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. As a group, analysts anticipate that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Hedge Funds Weigh In On Sana Biotechnology

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC bought a new stake in Sana Biotechnology in the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC boosted its holdings in Sana Biotechnology by 229.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock valued at $25,000 after purchasing an additional 10,548 shares during the period. Syon Capital LLC bought a new stake in Sana Biotechnology in the 4th quarter valued at about $27,000. Ameriprise Financial Inc. bought a new stake in Sana Biotechnology in the 4th quarter valued at about $29,000. Finally, Pallas Capital Advisors LLC bought a new stake in Sana Biotechnology in the 1st quarter valued at about $29,000. Institutional investors and hedge funds 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.