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

Key Points

• Sana Biotechnology hit a 52-week low of $2.10 and was down 5.9%, after previously closing at $2.29.
• Analyst views are mixed, but the consensus rating is Moderate Buy with an average price target of $9.60; Bank of America cut its target from $7 to $6 while keeping a Buy rating.
• The company reported a quarterly loss of $0.14 per share, slightly better than analysts’ expected loss of $0.15.

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) reached a new 52-week low on Thursday. The company traded as low as $2.10 and last traded at $2.1150, with a volume of 387,422 shares trading hands. The stock had previously closed at $2.29.

Analysts Set New Price Targets

Several research firms have recently issued reports on SANA. Wall Street Zen upgraded Sana Biotechnology from a "sell" rating to a "hold" rating in a research report on Saturday, November 7th. TD Cowen upgraded Sana Biotechnology to a "strong-buy" rating in a report on Monday, August 24th. Weiss Ratings lowered Sana Biotechnology from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday. Finally, Bank of America reduced their target price on Sana Biotechnology from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.60.

Sana Biotechnology Trading Down 5.9%

The company has a market cap of $645.71 million, a price-to-earnings ratio of -4.07 and a beta of 2.30. The firm's fifty day moving average price is $2.79 and its 200-day moving average price is $3.31.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. As a group, research analysts anticipate that Sana Biotechnology, Inc. will post -0.57 EPS for the current year.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds have recently modified their holdings of SANA. Royal Bank of Canada grew its position in shares of Sana Biotechnology by 76.8% in the 1st 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. Swiss National Bank boosted 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 valued at $987,000 after buying an additional 6,800 shares during the period. Cetera Investment Advisers increased its position in shares of Sana Biotechnology by 50.2% during the first quarter. Cetera Investment Advisers now owns 26,181 shares of the company's stock worth $75,000 after acquiring an additional 8,750 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Sana Biotechnology during the second quarter worth $35,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Sana Biotechnology by 23.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,622 shares of the company's stock worth $159,000 after acquiring an additional 10,332 shares during the period. Institutional investors and hedge funds 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.

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