Sana Biotechnology (NASDAQ:SANA) Shares Down 7.1% – Here’s Why

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) were down 7.1% on Monday . The stock traded as low as $3.70 and last traded at $3.7050. Approximately 1,845,966 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 5,633,096 shares. The stock had previously closed at $3.99.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SANA shares. Wedbush raised their price objective on Sana Biotechnology from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen upgraded shares of Sana Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. HC Wainwright reduced their price objective on shares of Sana Biotechnology from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sana Biotechnology in a report on Wednesday, October 8th. Finally, Citigroup reissued an “outperform” rating on shares of Sana Biotechnology in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sana Biotechnology currently has an average rating of “Moderate Buy” and an average price target of $8.33.

Sana Biotechnology Price Performance

The company has a market capitalization of $912.32 million, a P/E ratio of -3.53 and a beta of 1.94. The business’s 50-day moving average price is $4.19 and its two-hundred day moving average price is $3.47.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. 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

A number of large investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new stake in Sana Biotechnology in the 3rd quarter valued at $37,000. Mercer Global Advisors Inc. ADV acquired a new position in Sana Biotechnology during the third quarter valued at approximately $36,000. Lyell Wealth Management LP bought a new stake in Sana Biotechnology during the third quarter worth $37,000. Nisa Investment Advisors LLC boosted its holdings in shares of Sana Biotechnology by 673.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,911 shares of the company’s stock valued at $30,000 after purchasing an additional 9,501 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Sana Biotechnology in the 3rd quarter valued at $39,000. 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.