Sana Biotechnology (NASDAQ:SANA) Shares Down 7.9% – Here’s Why

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price traded down 7.9% during trading on Tuesday . The stock traded as low as $3.52 and last traded at $3.5450. Approximately 2,807,483 shares traded hands during trading, a decline of 8% from the average session volume of 3,065,648 shares. The stock had previously closed at $3.85.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Rodman & Renshaw began coverage on shares of Sana Biotechnology in a research report on Monday, May 11th. They issued a “buy” rating and a $16.00 price objective on the stock. Bank of America reduced their target price 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 downgraded shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Sana Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 23rd. Finally, TD Cowen upgraded shares of Sana Biotechnology to a “strong-buy” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.33.

Sana Biotechnology Price Performance

The company has a 50-day simple moving average of $3.63 and a 200-day simple moving average of $3.41. The stock has a market cap of $1.06 billion, a PE ratio of -4.68 and a beta of 2.12.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. On average, equities analysts expect that Sana Biotechnology, Inc. will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its stake in shares of Sana Biotechnology by 74.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock worth $39,000 after acquiring an additional 4,088 shares in the last quarter. LRI Investments LLC purchased a new position in Sana Biotechnology in the 4th quarter valued at approximately $41,000. Walleye Capital LLC purchased a new position in Sana Biotechnology in the 2nd quarter valued at approximately $35,000. Jacobi Capital Management LLC acquired a new position in Sana Biotechnology during the fourth quarter worth $41,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Sana Biotechnology during the third quarter worth $36,000. 88.23% of the stock is owned by hedge funds and other institutional investors.

About Sana Biotechnology

Sana Biotechnology is a clinical-stage biopharmaceutical company focused on the development of engineered cells as medicines with the goal of treating a broad range of diseases. The company applies advanced gene editing and gene delivery technologies to create next-generation cell therapy products for oncology, genetic disorders and other serious diseases. By leveraging both ex vivo and in vivo approaches, Sana aims to repair or replace damaged cells and restore healthy tissue function.

The company’s core platform integrates proprietary gene writing capabilities alongside established gene editing tools such as CRISPR–Cas9.