Sana Biotechnology (NASDAQ:SANA) Sets New 1-Year Low – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA) reached a new 52-week low during trading on Monday. The company traded as low as $2.24 and last traded at $2.2550, with a volume of 203,503 shares changing hands. The stock had previously closed at $2.27.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SANA shares. TD Cowen upgraded shares of Sana Biotechnology to a “strong-buy” rating in a research report on Monday, August 24th. Wall Street Zen downgraded shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. 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. Finally, Bank of America dropped their price objective on shares of Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Sana Biotechnology Stock Performance

The stock has a market cap of $669.07 million, a PE ratio of -2.95 and a beta of 2.18. The stock has a fifty day moving average price of $3.30 and a 200 day moving average price of $3.29.

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

Institutional Investors Weigh In On Sana Biotechnology

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

About Sana Biotechnology

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.