Sana Biotechnology (NASDAQ:SANA) Stock Price Down 4.5% - Time to Sell?

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Sana Biotechnology in a report on Friday, March 14th. They set a "buy" rating and a $7.00 target price for the company. JMP Securities reiterated a "market outperform" rating and issued a $5.00 price target on shares of Sana Biotechnology in a research report on Tuesday. Citizens Jmp raised Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price target on the stock in a research report on Tuesday, March 18th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $11.00 price objective on shares of Sana Biotechnology in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.83.

Sana Biotechnology Stock Down 1.9%

The firm's 50 day simple moving average is $2.12 and its two-hundred day simple moving average is $2.35. The stock has a market capitalization of $656.81 million, a P/E ratio of -3.22 and a beta of 1.78.

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

Institutional Investors Weigh In On Sana Biotechnology

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Sana Biotechnology by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 3,193,081 shares of the company's stock worth $5,206,000 after purchasing an additional 26,601 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Sana Biotechnology by 7.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,108,617 shares of the company's stock valued at $5,068,000 after acquiring an additional 219,498 shares during the last quarter. Integral Health Asset Management LLC lifted its holdings in Sana Biotechnology by 11.1% in the 4th quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company's stock worth $3,260,000 after buying an additional 200,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Sana Biotechnology by 44.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,557,496 shares of the company's stock valued at $2,538,000 after acquiring an additional 478,596 shares in the last quarter. Finally, Boxer Capital Management LLC purchased a new position in shares of Sana Biotechnology during the fourth quarter valued at about $2,518,000. Hedge funds and other 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.

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