Sana Biotechnology (NASDAQ:SANA) Stock Falls 6.7% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price traded down 6.7% during trading on Tuesday. The company traded as low as $2.44 and last traded at $2.4450. Approximately 1,904,159 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 3,210,040 shares. The stock had previously closed at $2.62.

Wall Street Analysts Forecast Growth

SANA has been the subject of several recent research reports. Bank of America lowered their target price on Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 14th. TD Cowen raised Sana Biotechnology to a “strong-buy” rating in a report on Monday, August 24th. Wall Street Zen downgraded Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Finally, Weiss Ratings upgraded 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sana Biotechnology presently has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Sana Biotechnology Stock Performance

The stock’s fifty day moving average is $3.39 and its two-hundred day moving average is $3.31. The firm has a market cap of $716.97 million, a price-to-earnings ratio of -3.15 and a beta of 2.18.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings data 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. Sell-side analysts predict that Sana Biotechnology, Inc. will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its position in shares of Sana Biotechnology by 74.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock worth $39,000 after buying an additional 4,088 shares during the period. Walleye Capital LLC acquired a new stake in Sana Biotechnology in the 2nd quarter valued at approximately $35,000. Callan Family Office LLC bought a new stake in Sana Biotechnology during the 2nd quarter valued at $43,000. Royal Bank of Canada raised its stake in Sana Biotechnology by 76.8% during the 1st quarter. Royal Bank of Canada now owns 12,285 shares of the company’s stock valued at $35,000 after acquiring an additional 5,338 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Sana Biotechnology during the 1st quarter worth $43,000. 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.