Sana Biotechnology (NASDAQ:SANA) Stock Falls 4.7% – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA) shares traded down 4.7% on Wednesday. The stock traded as low as $2.34 and last traded at $2.3150. 1,083,803 shares traded hands during trading, a decline of 66% from the average session volume of 3,161,324 shares. The stock had previously closed at $2.43.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America decreased their price target 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. Wall Street Zen raised shares of Sana Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Weiss Ratings cut shares of Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Finally, TD Cowen raised shares of Sana Biotechnology to a “strong-buy” rating in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sana Biotechnology currently has an average rating of “Moderate Buy” and a consensus target price of $9.60.

Sana Biotechnology Stock Performance

The company has a market cap of $576.81 million, a P/E ratio of -3.62 and a beta of 2.30. The business’s 50-day moving average price is $2.76 and its 200 day moving average price is $3.30.

Sana Biotechnology (NASDAQ:SANA) last issued its earnings results on Thursday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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.

Institutional Trading of Sana Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Sana Biotechnology by 76.8% in the first quarter. Royal Bank of Canada now owns 12,285 shares of the company’s stock valued at $35,000 after buying an additional 5,338 shares during the last quarter. Swiss National Bank increased its holdings in shares of Sana Biotechnology by 2.0% during the 1st quarter. Swiss National Bank now owns 342,600 shares of the company’s stock worth $987,000 after acquiring an additional 6,800 shares during the last quarter. Cetera Investment Advisers raised its stake in Sana Biotechnology by 50.2% in the 1st quarter. Cetera Investment Advisers now owns 26,181 shares of the company’s stock valued at $75,000 after acquiring an additional 8,750 shares during the period. Walleye Capital LLC bought a new stake in Sana Biotechnology in the 2nd quarter valued at $35,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in 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 valued at $159,000 after purchasing an additional 10,332 shares during the last quarter. Institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

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.