Sana Biotechnology (NASDAQ:SANA) Stock Price Down 5.5% – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price traded down 5.5% during trading on Thursday . The company traded as low as $4.46 and last traded at $4.5150. 2,389,527 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 5,610,717 shares. The stock had previously closed at $4.78.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SANA. Wall Street Zen downgraded Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Sana Biotechnology in a report on Monday, December 8th. Citizens Jmp increased their target price on shares of Sana Biotechnology from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Thursday, October 30th. JMP Securities set a $8.00 price target on Sana Biotechnology in a report on Thursday, October 30th. Finally, Citigroup reiterated an “outperform” rating on shares of Sana Biotechnology in a research report on Thursday, October 30th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.33.

Sana Biotechnology Stock Performance

The company has a 50 day moving average of $4.54 and a 200 day moving average of $3.81. The firm has a market cap of $1.20 billion, a P/E ratio of -4.64 and a beta of 1.95.

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

Institutional Trading of Sana Biotechnology

Several large investors have recently made changes to their positions in SANA. Invesco Ltd. boosted its holdings in Sana Biotechnology by 241.5% during the first quarter. Invesco Ltd. now owns 165,646 shares of the company’s stock valued at $278,000 after acquiring an additional 117,144 shares during the period. SCS Capital Management LLC acquired a new position in shares of Sana Biotechnology during the 1st quarter worth about $137,000. Marex Group plc bought a new stake in Sana Biotechnology during the 2nd quarter valued at approximately $10,423,000. CWM LLC boosted its stake in Sana Biotechnology by 125.7% during the 2nd quarter. CWM LLC now owns 86,750 shares of the company’s stock valued at $237,000 after purchasing an additional 48,319 shares during the period. Finally, Ieq Capital LLC grew its holdings in Sana Biotechnology by 428.7% in the 1st quarter. Ieq Capital LLC now owns 104,832 shares of the company’s stock valued at $176,000 after buying an additional 85,004 shares during the last quarter. 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.