Sana Biotechnology (NASDAQ:SANA) Hits New 12-Month Low – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA) shares reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $2.10 and last traded at $2.1150, with a volume of 387,422 shares changing hands. The stock had previously closed at $2.29.

Analyst Ratings Changes

A number of brokerages have recently commented on SANA. Weiss Ratings lowered Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. TD Cowen upgraded Sana Biotechnology to a “strong-buy” rating in a report on Monday, August 24th. Wall Street Zen upgraded Sana Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Finally, Bank of America lowered their price objective on shares of Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.60.

Sana Biotechnology Stock Performance

The business’s 50-day moving average price is $2.79 and its 200 day moving average price is $3.31. The company has a market cap of $645.71 million, a P/E ratio of -4.07 and a beta of 2.30.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. Equities research analysts forecast that Sana Biotechnology, Inc. will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On Sana Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sana Biotechnology in the third quarter valued at approximately $45,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Sana Biotechnology by 23.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,622 shares of the company’s stock worth $159,000 after acquiring an additional 10,332 shares during the period. T3 Companies LLC increased its holdings in shares of Sana Biotechnology by 162.8% during the 3rd quarter. T3 Companies LLC now owns 29,700 shares of the company’s stock worth $87,000 after acquiring an additional 18,400 shares during the last quarter. Abel Hall LLC acquired a new position in shares of Sana Biotechnology during the 3rd quarter worth approximately $35,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Sana Biotechnology during the 2nd quarter worth approximately $54,000. Institutional investors own 88.23% of the company’s stock.

About Sana Biotechnology

Sana Biotechnology, Inc. is a clinical-stage biotechnology company founded in 2018 and headquartered in Seattle. It develops engineered cells intended to treat a range of diseases, including cancer, autoimmune disorders and conditions that may be addressed through cell replacement. The company’s research focuses on modifying cells to improve their therapeutic properties, including approaches designed to help transplanted cells evade immune rejection. Its programs include engineered immune-cell therapies and cell-replacement treatments, such as work involving insulin-producing cells for type 1 diabetes.