Sana Biotechnology (NASDAQ:SANA) Hits New 52-Week Low - Should You Sell?

Key Points

• Sana Biotechnology shares hit a new 52-week low, falling to $2.61 and last trading near $2.6050, compared with a previous close of $2.79.
• Analyst opinions remain mixed, but the stock carries a consensus “Moderate Buy” rating and an average price target of $9.33; Wall Street Zen recently downgraded it to “sell,” while TD Cowen upgraded it to “strong buy.”
• Sana reported a quarterly loss of $0.13 per share, beating estimates for a $0.15 loss. Institutional investors own 88.23% of the company, with BlackRock, Canada Pension Plan Investment Board and Bank of America among recent new investors.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price hit a new 52-week low during trading on Monday. The company traded as low as $2.61 and last traded at $2.6050, with a volume of 1,744,170 shares traded. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

Several analysts have commented on SANA shares. Wall Street Zen lowered shares of Sana Biotechnology from a "hold" rating to a "sell" rating in a research report on Monday, July 20th. Bank of America dropped their price objective on shares of Sana Biotechnology from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, August 14th. TD Cowen raised shares of Sana Biotechnology to a "strong-buy" rating in a research report on Monday, August 24th. Finally, Weiss Ratings upgraded shares of Sana Biotechnology from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 23rd. One equities 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.33.

Sana Biotechnology Stock Performance

The stock has a market capitalization of $785.82 million, a PE ratio of -3.44 and a beta of 2.18. The business's 50-day moving average price is $3.40 and its 200 day moving average price is $3.31.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last announced its 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. As a group, equities research analysts predict that Sana Biotechnology, Inc. will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Sana Biotechnology

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Sana Biotechnology in the 2nd quarter worth approximately $58,196,000. Canada Pension Plan Investment Board bought a new stake in Sana Biotechnology during the 2nd quarter valued at about $35,662,000. Bank of America Corp DE purchased a new stake in shares of Sana Biotechnology during the second quarter valued at approximately $20,062,000. Alphabet Inc. bought a new stake in shares of Sana Biotechnology during the second quarter valued at approximately $9,816,000. Finally, Deutsche Bank AG bought a new position in Sana Biotechnology in the 2nd quarter valued at approximately $2,251,000. 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.

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