Sana Biotechnology (NASDAQ:SANA) Shares Down 5.5% – What’s Next?

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen downgraded shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. HC Wainwright dropped their price target on shares of Sana Biotechnology from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Citizens Jmp lifted their price objective on Sana Biotechnology from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Thursday, October 30th. Citigroup reissued an “outperform” rating on shares of Sana Biotechnology in a report on Thursday, October 30th. Finally, Wedbush boosted their price target on Sana Biotechnology from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Sana Biotechnology Stock Performance

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -4.64 and a beta of 1.95. The firm’s 50-day simple moving average is $4.54 and its two-hundred day simple moving average is $3.81.

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

Hedge Funds Weigh In On Sana Biotechnology

Several large investors have recently made changes to their positions in the company. Invesco Ltd. increased its position in Sana Biotechnology by 241.5% in the first quarter. Invesco Ltd. now owns 165,646 shares of the company’s stock worth $278,000 after purchasing an additional 117,144 shares during the period. SCS Capital Management LLC acquired a new position in Sana Biotechnology during the 1st quarter valued at about $137,000. Marex Group plc bought a new position in shares of Sana Biotechnology in the 2nd quarter valued at about $10,423,000. CWM LLC grew its position in shares of Sana Biotechnology by 125.7% during the 2nd quarter. CWM LLC now owns 86,750 shares of the company’s stock worth $237,000 after buying an additional 48,319 shares during the period. Finally, Ieq Capital LLC grew its position in shares of Sana Biotechnology by 428.7% during the 1st quarter. Ieq Capital LLC now owns 104,832 shares of the company’s stock worth $176,000 after buying an additional 85,004 shares during the period. Institutional investors and hedge funds own 88.23% of the company’s stock.

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.