Sana Biotechnology (NASDAQ:SANA) Reaches New 1-Year Low – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA) shares reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $2.61 and last traded at $2.6050, with a volume of 1,744,170 shares trading hands. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SANA. TD Cowen raised shares of Sana Biotechnology to a “strong-buy” rating in a research report on Monday, August 24th. Bank of America dropped their price target on Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Wall Street Zen lowered Sana Biotechnology from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded shares of Sana Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Sana Biotechnology Stock Performance

The firm has a market cap of $785.82 million, a P/E ratio of -3.44 and a beta of 2.18. The firm’s fifty day moving average price is $3.40 and its 200 day moving average price is $3.31.

Sana Biotechnology (NASDAQ:SANA) last posted its earnings results on Monday, August 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. As a group, analysts expect that Sana Biotechnology, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in SANA. BlackRock Inc. purchased a new position in Sana Biotechnology in the second quarter valued at $58,196,000. Canada Pension Plan Investment Board purchased a new stake in shares of Sana Biotechnology during the second quarter worth $35,662,000. Bank of America Corp DE acquired a new position in shares of Sana Biotechnology during the 2nd quarter worth approximately $20,062,000. Alphabet Inc. purchased a new stake in Sana Biotechnology in the 2nd quarter valued at $9,816,000. Finally, Deutsche Bank AG acquired a new position in Sana Biotechnology in the 2nd quarter valued at about $2,251,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

Sana Biotechnology, Inc is a biotechnology company focused on developing engineered cell and gene therapies intended to treat diseases with significant unmet medical needs. The company’s approach is designed to enable the delivery of functional cells or genetic material to patients while addressing challenges such as immune rejection, manufacturing complexity and the need for repeated treatment.

Sana’s research programs include both ex vivo therapies, in which cells are modified outside the body before being administered to a patient, and in vivo therapies, which are designed to modify or deliver therapeutic material directly within the body.