Sana Biotechnology (NASDAQ:SANA) Sets New 1-Year Low - Here's What Happened

Key Points

• Sana Biotechnology shares hit a new 52-week low of $2.24 during Monday trading, compared with a prior close of $2.27.
• Analyst views were mixed, but the stock carries a consensus “Moderate Buy” rating and an average price target of $9.33; Bank of America lowered its target to $6.00 while TD Cowen upgraded the shares to “strong buy.”
• Sana reported quarterly EPS of -$0.13, beating expectations of -$0.15, while institutional investors own 88.23% of the company and recently expanded their positions.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $2.24 and last traded at $2.2550, with a volume of 203,503 shares changing hands. The stock had previously closed at $2.27.

Analysts Set New Price Targets

Several analysts have weighed in on SANA shares. Bank of America lowered their price target 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. TD Cowen raised Sana Biotechnology to a "strong-buy" rating in a research note on Monday, August 24th. Weiss Ratings upgraded Sana Biotechnology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 23rd. Finally, Wall Street Zen downgraded Sana Biotechnology from a "hold" rating to a "sell" rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $9.33.

Sana Biotechnology Price Performance

The firm has a market cap of $669.07 million, a P/E ratio of -2.95 and a beta of 2.18. The stock's 50 day simple moving average is $3.30 and its two-hundred day simple moving average is $3.29.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) 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. Equities research analysts anticipate that Sana Biotechnology, Inc. will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Sana Biotechnology

Several institutional investors have recently made changes to their positions in SANA. BlackRock Inc. purchased a new position in Sana Biotechnology during the second quarter valued at $58,196,000. Canada Pension Plan Investment Board purchased a new stake in Sana Biotechnology during the 2nd quarter valued at approximately $35,662,000. Bank of America Corp DE bought a new stake in Sana Biotechnology in the 2nd quarter valued at $20,062,000. Alphabet Inc. bought a new stake in shares of Sana Biotechnology in the second quarter worth about $9,816,000. Finally, Deutsche Bank AG purchased a new stake in shares of Sana Biotechnology in the second quarter worth about $2,251,000. Institutional investors own 88.23% of the company's stock.

Sana Biotechnology Company Profile

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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