Bank of America Lowers Sana Biotechnology (NASDAQ:SANA) Price Target to $6.00

Sana Biotechnology (NASDAQ:SANA) had its target price decreased by investment analysts at Bank of America from $7.00 to $6.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 72.17% from the company’s current price.

Several other research analysts have also recently weighed in on SANA. Weiss Ratings raised Sana Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Finally, Rodman & Renshaw assumed coverage on shares of Sana Biotechnology in a research report on Monday, May 11th. They set a “buy” rating and a $16.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.33.

Sana Biotechnology Price Performance

Shares of NASDAQ SANA traded down $0.18 during mid-day trading on Friday, reaching $3.48. 2,196,318 shares of the company traded hands, compared to its average volume of 3,124,849. Sana Biotechnology has a fifty-two week low of $2.61 and a fifty-two week high of $6.55. The firm has a market cap of $1.04 billion, a PE ratio of -4.56 and a beta of 2.16. The stock has a fifty day simple moving average of $3.35 and a 200-day simple moving average of $3.45.

Sana Biotechnology (NASDAQ:SANA) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. As a group, analysts predict that Sana Biotechnology will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its position in shares of Sana Biotechnology by 49.8% during the first quarter. AQR Capital Management LLC now owns 573,146 shares of the company’s stock worth $963,000 after purchasing an additional 190,483 shares during the period. Woodline Partners LP boosted its position in shares of Sana Biotechnology by 13.1% in the 1st quarter. Woodline Partners LP now owns 780,656 shares of the company’s stock valued at $1,312,000 after purchasing an additional 90,515 shares during the period. Franklin Resources Inc. increased its stake in Sana Biotechnology by 86.8% in the 2nd quarter. Franklin Resources Inc. now owns 93,081 shares of the company’s stock worth $254,000 after purchasing an additional 43,247 shares in the last quarter. Rhumbline Advisers increased its stake in Sana Biotechnology by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 203,283 shares of the company’s stock worth $555,000 after purchasing an additional 21,149 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Sana Biotechnology during the 2nd quarter worth about $50,000. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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.