Sana Biotechnology (NASDAQ:SANA) Trading Down 7.9% - What's Next?

Key Points

• Sana Biotechnology shares fell 7.9% to approximately $3.55, with about 2.8 million shares traded. The company has a $1.06 billion market capitalization and a high beta of 2.12.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $9.33 price target, despite Bank of America cutting its target to $6.00 and one firm issuing a sell rating.
• Sana beat quarterly earnings expectations, reporting a loss of $0.13 per share versus the $0.15 consensus estimate. Institutional investors own 88.23% of the stock, with major new positions from BlackRock, Canada Pension Plan Investment Board and Alphabet.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) fell 7.9% on Tuesday . The stock traded as low as $3.52 and last traded at $3.5450. Approximately 2,807,483 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 3,065,648 shares. The stock had previously closed at $3.85.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SANA. Bank of America lowered their target price on shares of Sana Biotechnology from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Rodman & Renshaw started coverage on shares of Sana Biotechnology in a research report on Monday, May 11th. They set a "buy" rating and a $16.00 price target on the stock. TD Cowen raised shares of Sana Biotechnology to a "strong-buy" rating in a research note on Monday, August 24th. Wall Street Zen lowered shares of Sana Biotechnology from a "hold" rating to a "sell" rating in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded Sana Biotechnology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.33.

Sana Biotechnology Trading Down 8.2%

The company has a market capitalization of $1.06 billion, a PE ratio of -4.68 and a beta of 2.12. The business has a fifty day moving average of $3.63 and a 200 day moving average of $3.41.

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, topping analysts' consensus estimates of ($0.15) by $0.02. Equities analysts forecast that Sana Biotechnology, Inc. will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Alphabet Inc. acquired a new stake in shares of Sana Biotechnology during the second quarter worth about $9,816,000. Deutsche Bank AG purchased a new stake in Sana Biotechnology during the 2nd quarter valued at approximately $2,251,000. Bank of America Corp DE raised its stake in Sana Biotechnology by 148.4% during the 1st quarter. Bank of America Corp DE now owns 2,946,861 shares of the company's stock valued at $8,487,000 after acquiring an additional 1,760,610 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Sana Biotechnology during the 2nd quarter worth approximately $35,662,000. Finally, BlackRock Inc. purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at approximately $58,196,000. Hedge funds and other institutional investors own 88.23% of the company's stock.

About Sana Biotechnology

Sana Biotechnology is a clinical-stage biopharmaceutical company focused on the development of engineered cells as medicines with the goal of treating a broad range of diseases. The company applies advanced gene editing and gene delivery technologies to create next-generation cell therapy products for oncology, genetic disorders and other serious diseases. By leveraging both ex vivo and in vivo approaches, Sana aims to repair or replace damaged cells and restore healthy tissue function.

The company's core platform integrates proprietary gene writing capabilities alongside established gene editing tools such as CRISPR–Cas9.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.