Bank of America Issues Pessimistic Forecast for Sana Biotechnology (NASDAQ:SANA) Stock Price

Key Points

• Bank of America lowered Sana Biotechnology’s price target from $7 to $6 while maintaining a “buy” rating, implying 72.17% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: seven analysts rate the stock a Buy, one rates it Hold, and one rates it Sell, resulting in a “Moderate Buy” consensus and a $9.33 average target.
• Sana shares fell to $3.48, with the company reporting a quarterly loss of $0.13 per share—better than the expected $0.15 loss. Institutional investors own 88.23% of the stock.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) had its target price decreased by stock analysts at Bank of America from $7.00 to $6.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 72.17% from the company's previous close.

A number of other brokerages also recently weighed in on SANA. Wall Street Zen downgraded Sana Biotechnology from a "hold" rating to a "sell" rating in a report on Monday, July 20th. Rodman & Renshaw started coverage on Sana Biotechnology in a research report on Monday, May 11th. They issued a "buy" rating and a $16.00 target price on the stock. Finally, Weiss Ratings upgraded Sana Biotechnology from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 23rd. Seven research analysts have rated the stock with 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $9.33.

Sana Biotechnology Stock Performance

Shares of NASDAQ:SANA traded down $0.18 during trading on Friday, hitting $3.48. The company's stock had a trading volume of 2,196,318 shares, compared to its average volume of 3,124,849. Sana Biotechnology has a fifty-two week low of $2.61 and a fifty-two week high of $6.55. The stock's 50-day moving average price is $3.35 and its two-hundred day moving average price is $3.45. The company has a market capitalization of $1.04 billion, a PE ratio of -4.56 and a beta of 2.16.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. On average, equities analysts predict that Sana Biotechnology will post -0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Walleye Capital LLC bought a new stake in Sana Biotechnology during the 2nd quarter valued at $35,000. Royal Bank of Canada increased its holdings 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 purchasing an additional 5,338 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sana Biotechnology during the third quarter valued at $36,000. Rockefeller Capital Management L.P. raised its stake 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 valued at $39,000 after purchasing an additional 4,088 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Sana Biotechnology during the third quarter valued at about $39,000. 88.23% of the stock is owned by 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.

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