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

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. The stock had previously closed at $2.27.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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. Bank of America dropped their target price on shares of Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Wall Street Zen downgraded shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. Finally, TD Cowen raised shares of Sana Biotechnology to a “strong-buy” rating in a report on Monday, August 24th. One 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 given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Sana Biotechnology Trading Up 2.6%

The firm has a fifty day moving average of $3.25 and a two-hundred day moving average of $3.29. The company has a market cap of $706.49 million, a PE ratio of -3.11 and a beta of 2.18.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. Sell-side analysts expect that Sana Biotechnology, Inc. will post -0.72 EPS for the current fiscal year.

Institutional Trading of Sana Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its holdings in Sana Biotechnology by 74.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock valued at $39,000 after buying an additional 4,088 shares in the last quarter. Royal Bank of Canada increased its position in shares of Sana Biotechnology by 76.8% during 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 period. Swiss National Bank lifted its holdings in shares of Sana Biotechnology by 2.0% in the first quarter. Swiss National Bank now owns 342,600 shares of the company’s stock worth $987,000 after buying an additional 6,800 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Sana Biotechnology by 50.2% in the first quarter. Cetera Investment Advisers now owns 26,181 shares of the company’s stock worth $75,000 after buying an additional 8,750 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Sana Biotechnology in the second quarter worth about $35,000. 88.23% of the stock is currently owned by institutional investors.

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.