Sana Biotechnology (NASDAQ:SANA) Trading Down 9.7% Following Analyst Downgrade

Sana Biotechnology, Inc. (NASDAQ:SANA) fell 9.7% on Thursday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $3.44 and last traded at $3.45. 2,683,470 shares were traded during trading, an increase of 19% from the average session volume of 2,263,731 shares. The stock had previously closed at $3.82.

A number of other research analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sana Biotechnology in a research note on Monday, December 29th. Wall Street Zen cut shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Wedbush lifted their target price on shares of Sana Biotechnology from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. HC Wainwright dropped their target price on shares of Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Bank of America raised their price target on Sana Biotechnology from $6.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Seven 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. Based on data from MarketBeat.com, Sana Biotechnology has an average rating of “Moderate Buy” and an average target price of $7.83.

Institutional Trading of Sana Biotechnology

Hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. grew its position in shares of Sana Biotechnology by 13.6% during the third quarter. Baillie Gifford & Co. now owns 11,436,503 shares of the company’s stock valued at $40,600,000 after purchasing an additional 1,371,775 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sana Biotechnology by 19.9% in the third quarter. Vanguard Group Inc. now owns 9,128,973 shares of the company’s stock worth $32,408,000 after buying an additional 1,517,474 shares in the last quarter. State Street Corp boosted its stake in Sana Biotechnology by 20.6% during the fourth quarter. State Street Corp now owns 8,054,841 shares of the company’s stock valued at $32,783,000 after buying an additional 1,374,300 shares during the last quarter. Geode Capital Management LLC grew its holdings in Sana Biotechnology by 20.3% during the 4th quarter. Geode Capital Management LLC now owns 4,118,138 shares of the company’s stock valued at $16,763,000 after buying an additional 694,606 shares in the last quarter. Finally, Marex Group plc bought a new stake in Sana Biotechnology in the 2nd quarter worth approximately $10,423,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Trading Down 10.7%

The firm has a market cap of $910.03 million, a P/E ratio of -3.52 and a beta of 1.96. The stock has a 50 day simple moving average of $4.27 and a 200-day simple moving average of $4.14.

Sana Biotechnology (NASDAQ:SANA) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). As a group, equities analysts forecast that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

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.