Massachusetts Financial Services Co. MA Reduces Stock Position in Sana Biotechnology, Inc. (NASDAQ:SANA)

Massachusetts Financial Services Co. MA lowered its position in shares of Sana Biotechnology, Inc. (NASDAQ:SANA) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 485,784 shares of the company’s stock after selling 1,382 shares during the period. Massachusetts Financial Services Co. MA owned about 0.26% of Sana Biotechnology worth $9,551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SANA. Alliancebernstein L.P. purchased a new stake in Sana Biotechnology during the 1st quarter valued at $460,000. Rhumbline Advisers bought a new position in shares of Sana Biotechnology in the 1st quarter worth about $702,000. BlackRock Inc. bought a new stake in Sana Biotechnology during the 1st quarter valued at about $59,556,000. New York State Common Retirement Fund bought a new stake in Sana Biotechnology during the 1st quarter valued at about $1,017,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Sana Biotechnology during the 1st quarter valued at about $2,136,000. 50.36% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Christian Hordo sold 7,958 shares of the business’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $25.00, for a total transaction of $198,950.00. Following the completion of the sale, the executive vice president now directly owns 977,356 shares of the company’s stock, valued at $24,433,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 74,929 shares of company stock valued at $1,873,895 over the last ninety days.

A number of research firms have commented on SANA. The Goldman Sachs Group decreased their target price on shares of Sana Biotechnology from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, August 6th. Zacks Investment Research cut shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research report on Tuesday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.50.

Shares of SANA opened at $19.87 on Thursday. The company’s fifty day moving average is $22.29 and its 200 day moving average is $22.00. Sana Biotechnology, Inc. has a fifty-two week low of $16.09 and a fifty-two week high of $44.60. The stock has a market capitalization of $3.73 billion and a PE ratio of -1.72.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.13. Analysts anticipate that Sana Biotechnology, Inc. will post -1.12 earnings per share for the current year.

About Sana Biotechnology

Sana Biotechnology, Inc, a biotechnology company, focuses on utilizing engineered cells as medicines. The company develops in vivo and ex vivo cell engineering platforms for various therapeutic areas with unmet treatment needs, including oncology, diabetes, central nervous system disorders, cardiovascular diseases, genetic disorders, and others.

Further Reading: Death Cross

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Institutional Ownership by Quarter for Sana Biotechnology (NASDAQ:SANA)

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