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

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price dropped 7.2% 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

SANA has been the topic of a number of recent analyst reports. Bank of America decreased their price objective 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. Wall Street Zen lowered Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. TD Cowen raised Sana Biotechnology to a “strong-buy” rating in a report on Monday, August 24th. Finally, Weiss Ratings upgraded Sana Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Sana Biotechnology Stock Performance

The firm has a market cap of $886.11 million, a price-to-earnings ratio of -3.89 and a beta of 2.12. The business has a fifty day simple moving average of $3.47 and a 200-day simple moving average of $3.34.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. On average, equities analysts anticipate that Sana Biotechnology, Inc. will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Sana Biotechnology

A number of hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its holdings in Sana Biotechnology by 74.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock worth $39,000 after buying an additional 4,088 shares during the period. Walleye Capital LLC acquired a new position in shares of Sana Biotechnology in the second quarter worth approximately $35,000. Callan Family Office LLC bought a new stake in Sana Biotechnology in the second quarter valued at approximately $43,000. Royal Bank of Canada increased its position in Sana Biotechnology by 76.8% during the 1st quarter. Royal Bank of Canada now owns 12,285 shares of the company’s stock valued at $35,000 after purchasing an additional 5,338 shares during the period. Finally, Leonteq Securities AG bought a new position in Sana Biotechnology during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

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.