Sana Biotechnology (NASDAQ:SANA) Shares Down 6% – Should You Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA) traded down 6% during mid-day trading on Wednesday . The company traded as low as $2.66 and last traded at $2.67. 550,564 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 2,142,666 shares. The stock had previously closed at $2.84.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SANA shares. Citigroup upped their target price 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 reissued a “buy” rating and issued a $8.00 target price on shares of Sana Biotechnology in a research report on Monday. Finally, JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Sana Biotechnology Stock Down 6.3 %

The firm’s 50 day simple moving average is $4.09 and its 200-day simple moving average is $5.69.

Sana Biotechnology (NASDAQ:SANA) last announced its earnings results on Friday, November 8th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. Equities research analysts forecast that Sana Biotechnology, Inc. will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at Sana Biotechnology

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $4.08, for a total value of $612,000.00. Following the completion of the transaction, the director now directly owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 31.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in shares of 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. Cornercap Investment Counsel Inc. purchased a new position in shares of Sana Biotechnology in the 3rd quarter valued at $67,000. Algert Global LLC purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at $73,000. XTX Topco Ltd purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at $100,000. Finally, Dark Forest Capital Management LP raised its stake in shares of Sana Biotechnology by 112.0% in the 2nd quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock valued at $149,000 after acquiring an additional 14,430 shares during the period. 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.