Sana Biotechnology (NASDAQ:SANA) Shares Down 7.1% – Time to Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price was down 7.1% during trading on Monday . The stock traded as low as $3.70 and last traded at $3.7050. Approximately 1,845,966 shares traded hands during trading, a decline of 67% from the average daily volume of 5,633,096 shares. The stock had previously closed at $3.99.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. HC Wainwright cut their price target on Sana Biotechnology from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Wall Street Zen raised shares of Sana Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Wedbush boosted their target price on shares of Sana Biotechnology from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Citigroup reissued an “outperform” rating on shares of Sana Biotechnology in a research report on Thursday, October 30th. Finally, Citizens Jmp increased their price objective on shares of Sana Biotechnology from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.33.

Sana Biotechnology Trading Down 8.8%

The firm has a fifty day moving average of $4.17 and a two-hundred day moving average of $3.44. The company has a market cap of $969.57 million, a PE ratio of -3.75 and a beta of 1.94.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. Sell-side analysts expect that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds have recently made changes to their positions in the business. TD Waterhouse Canada Inc. bought a new position in Sana Biotechnology during the 3rd quarter valued at approximately $37,000. Mercer Global Advisors Inc. ADV purchased a new stake in Sana Biotechnology during the third quarter valued at $36,000. Lyell Wealth Management LP bought a new position in shares of Sana Biotechnology in the 3rd quarter worth approximately $37,000. Nisa Investment Advisors LLC increased its stake in shares of Sana Biotechnology by 673.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,911 shares of the company’s stock worth $30,000 after purchasing an additional 9,501 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Sana Biotechnology during the 3rd quarter valued at about $39,000. 88.23% of the stock is owned by hedge funds and other institutional investors.

About Sana Biotechnology

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.