Sana Biotechnology (NASDAQ:SANA) Stock Price Down 7.2% – Here’s What Happened

Sana Biotechnology, Inc. (NASDAQ:SANA)’s share price dropped 7.2% during trading on Tuesday . The company traded as low as $2.86 and last traded at $2.8950. Approximately 2,273,737 shares were traded during trading, a decline of 9% from the average daily volume of 2,498,119 shares. The stock had previously closed at $3.12.

Wall Street Analyst Weigh In

SANA has been the subject of a number of recent analyst reports. Bank of America upped their price objective on Sana Biotechnology from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Zacks Research downgraded shares of Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Morgan Stanley restated an “overweight” rating and set a $12.00 price target on shares of Sana Biotechnology in a research report on Friday, March 13th. HC Wainwright decreased their price objective on shares of Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, Wall Street Zen lowered shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Sana Biotechnology Trading Down 6.3%

The stock has a market cap of $780.59 million, a PE ratio of -3.02 and a beta of 1.96. The business has a 50-day moving average price of $4.01 and a 200 day moving average price of $4.15.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). On average, equities analysts predict that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Institutional Trading of Sana Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of SANA. Mercer Global Advisors Inc. ADV bought a new position in Sana Biotechnology in the 3rd quarter worth approximately $36,000. Lyell Wealth Management LP bought a new stake in Sana Biotechnology during the 3rd quarter valued at $37,000. TD Waterhouse Canada Inc. bought a new stake in Sana Biotechnology during the 3rd quarter valued at $37,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Sana Biotechnology during the 3rd quarter valued at $39,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Sana Biotechnology by 74.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock worth $39,000 after acquiring an additional 4,088 shares in the last quarter. Institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

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.