Sana Biotechnology (NASDAQ:SANA) Trading Down 7.2% - What's Next?

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report) dropped 7.2% during mid-day trading on Wednesday . The stock traded as low as $2.69 and last traded at $2.70. Approximately 2,030,314 shares changed hands during trading, a decline of 43% from the average daily volume of 3,533,710 shares. The stock had previously closed at $2.91.

Analyst Ratings Changes

SANA has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on Sana Biotechnology in a research report on Friday, March 14th. They set a "buy" rating and a $7.00 price objective for the company. Citizens Jmp upgraded Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price objective for the company in a research report on Tuesday, March 18th. Finally, HC Wainwright reiterated a "buy" rating and set a $11.00 price objective on shares of Sana Biotechnology in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.80.

Sana Biotechnology Price Performance

The stock has a market cap of $583.99 million, a P/E ratio of -1.85 and a beta of 1.78. The company has a fifty day moving average of $1.96 and a 200 day moving average of $2.34.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. As a group, analysts anticipate that Sana Biotechnology, Inc. will post -1.16 EPS for the current year.

Institutional Investors Weigh In On Sana Biotechnology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SANA. Geode Capital Management LLC increased its holdings in shares of Sana Biotechnology by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 3,193,081 shares of the company's stock valued at $5,206,000 after buying an additional 26,601 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Sana Biotechnology by 7.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,108,617 shares of the company's stock valued at $5,068,000 after buying an additional 219,498 shares in the last quarter. Integral Health Asset Management LLC increased its holdings in shares of Sana Biotechnology by 11.1% in the fourth quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company's stock valued at $3,260,000 after buying an additional 200,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sana Biotechnology by 44.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,557,496 shares of the company's stock valued at $2,538,000 after buying an additional 478,596 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new position in shares of Sana Biotechnology in the fourth quarter valued at $2,518,000. Institutional investors 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.