Sana Biotechnology (NASDAQ:SANA) Shares Down 5.7% - Here's What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) shares dropped 5.7% during trading on Monday . The stock traded as low as $4.41 and last traded at $4.37. Approximately 1,968,731 shares were traded during trading, a decline of 50% from the average daily volume of 3,924,545 shares. The stock had previously closed at $4.63.

Analysts Set New Price Targets

SANA has been the topic of several research reports. JMP Securities restated a "market outperform" rating and set a $5.00 price objective on shares of Sana Biotechnology in a report on Tuesday, June 24th. Morgan Stanley started coverage on Sana Biotechnology in a report on Thursday, July 3rd. They set an "overweight" rating and a $12.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $11.00 target price on shares of Sana Biotechnology in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $9.17.

Sana Biotechnology Trading Down 0.1%

The firm has a market cap of $1.16 billion, a P/E ratio of -5.94 and a beta of 1.86. The firm has a 50-day simple moving average of $2.95 and a 200-day simple moving average of $2.62.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.02. Research analysts predict that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Sana Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SANA. Boxer Capital Management LLC acquired a new position in shares of Sana Biotechnology in the 4th quarter valued at about $2,518,000. Millennium Management LLC raised its holdings in Sana Biotechnology by 604.8% in the 4th quarter. Millennium Management LLC now owns 728,901 shares of the company's stock worth $1,188,000 after purchasing an additional 625,481 shares during the period. Dimensional Fund Advisors LP raised its holdings in Sana Biotechnology by 44.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,557,496 shares of the company's stock worth $2,538,000 after purchasing an additional 478,596 shares during the period. Clearline Capital LP acquired a new position in Sana Biotechnology in the 1st quarter worth about $690,000. Finally, Nuveen LLC acquired a new position in Sana Biotechnology in the 1st quarter worth about $589,000. Institutional investors and hedge funds own 88.23% of the company's stock.

Sana Biotechnology Company Profile

Sana Biotechnology, Inc, a biotechnology company, focuses on utilizing engineered cells as medicines. It develops ex vivo and in vivo cell engineering platforms for various therapeutic areas with unmet treatment needs, including oncology, diabetes, central nervous system disorders, B-cell-mediated autoimmune, and others.