Sana Biotechnology (NASDAQ:SANA) Shares Down 7.2% - Should You Sell?

Key Points

• Sana Biotechnology shares fell 7.2% to about $3.09 in midday trading, with volume roughly 70% below the average session level.
• Analyst sentiment remains broadly positive despite the decline: MarketBeat reports a “Moderate Buy” consensus and a $9.33 average price target, although ratings range from “Strong Buy” to “Sell.”
• Sana reported a quarterly loss of $0.13 per share, beating the $0.15 loss expected by analysts; the clinical-stage biotech is developing engineered cell and gene therapies and is expected to post a full-year loss of $0.72 per share.

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) were down 7.2% during mid-day trading on Wednesday . The company traded as low as $3.05 and last traded at $3.0890. Approximately 963,918 shares were traded during trading, a decline of 70% from the average session volume of 3,177,541 shares. The stock had previously closed at $3.33.

Wall Street Analyst Weigh In

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

Sana Biotechnology Stock Down 8.3%

The company has a market capitalization of $914.54 million, a price-to-earnings ratio of -4.02 and a beta of 2.12. The business has a fifty day simple moving average of $3.49 and a two-hundred day simple moving average of $3.34.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. As a group, equities analysts predict that Sana Biotechnology, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds have recently added to or reduced their stakes in SANA. Royal Bank of Canada raised its position 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 worth $35,000 after acquiring an additional 5,338 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Sana Biotechnology in the 2nd quarter valued at about $35,000. Rockefeller Capital Management L.P. boosted its stake in shares of Sana Biotechnology by 74.3% in the 4th 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 during the last quarter. Leonteq Securities AG acquired a new stake in shares of Sana Biotechnology during the 1st quarter worth approximately $43,000. Finally, Callan Family Office LLC bought a new stake in shares of Sana Biotechnology during the second quarter worth approximately $43,000. Institutional investors own 88.23% of the company's stock.

About Sana Biotechnology

Sana Biotechnology, Inc is a clinical-stage biotechnology company focused on developing engineered cells and gene therapies for the treatment of serious diseases. The company's approach is designed to create therapeutic cells that can be delivered to patients without requiring individualized manufacturing, potentially broadening access to cell-based medicines.

Sana is developing technologies intended to address key challenges in cell and gene therapy, including immune rejection, targeted delivery of genetic material and the production of engineered cells at scale.

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