Sana Biotechnology (NASDAQ:SANA) Stock Price Down 6.7% - What's Next?

Key Points

• Sana Biotechnology shares fell 6.7% to about $2.45, with trading volume roughly 41% below the stock’s average daily volume.
• Analyst views are mixed, but the overall consensus remains “Moderate Buy”, with a $9.33 price target; ratings include one Strong Buy, seven Buys, one Hold and one Sell.
• Sana beat quarterly earnings expectations, reporting a loss of $0.13 per share versus the estimated $0.15 loss, while institutional investors collectively own 88.23% of the company.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price fell 6.7% on Tuesday. The company traded as low as $2.44 and last traded at $2.4450. Approximately 1,904,159 shares were traded during trading, a decline of 41% from the average daily volume of 3,210,040 shares. The stock had previously closed at $2.62.

Wall Street Analyst Weigh In

Several research analysts have commented on SANA shares. Weiss Ratings raised Sana Biotechnology from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 23rd. Wall Street Zen cut Sana Biotechnology from a "hold" rating to a "sell" rating in a research note on Monday, July 20th. Bank of America dropped 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. Finally, TD Cowen raised Sana Biotechnology to a "strong-buy" rating in a research report on Monday, August 24th. 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's stock. Based on data from MarketBeat, Sana Biotechnology has an average rating of "Moderate Buy" and a consensus price target of $9.33.

Sana Biotechnology Stock Performance

The stock has a market cap of $716.97 million, a price-to-earnings ratio of -3.15 and a beta of 2.18. The business's fifty day simple moving average is $3.39 and its 200 day simple moving average is $3.31.

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

Institutional Investors Weigh In On Sana Biotechnology

A number of hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its holdings in Sana Biotechnology by 74.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company's stock valued at $39,000 after buying an additional 4,088 shares during the last quarter. Royal Bank of Canada lifted its holdings in Sana Biotechnology by 76.8% during the 1st quarter. Royal Bank of Canada now owns 12,285 shares of the company's stock worth $35,000 after buying an additional 5,338 shares during the last quarter. Swiss National Bank lifted its holdings in Sana Biotechnology by 2.0% during the 1st quarter. Swiss National Bank now owns 342,600 shares of the company's stock worth $987,000 after buying an additional 6,800 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Sana Biotechnology by 50.2% during the 1st quarter. Cetera Investment Advisers now owns 26,181 shares of the company's stock worth $75,000 after buying an additional 8,750 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Sana Biotechnology in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds 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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