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

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) fell 7.2% during trading on Tuesday . The stock traded as low as $2.86 and last traded at $2.8950. 2,273,737 shares were traded during mid-day trading, a decline of 9% from the average session volume of 2,498,119 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

SANA has been the subject of several recent analyst reports. HC Wainwright decreased their target price on Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sana Biotechnology in a report on Monday, December 29th. Zacks Research downgraded Sana Biotechnology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Bank of America upped their target price on Sana Biotechnology from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $12.00 price target on shares of Sana Biotechnology in a research note on Friday, March 13th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.00.

Sana Biotechnology Price Performance

The company has a market cap of $780.59 million, a P/E ratio of -3.02 and a beta of 1.96. The stock has a fifty day moving average price of $4.01 and a two-hundred day moving average price of $4.15.

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

Institutional Trading of Sana Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Sana Biotechnology by 49.8% in the 1st quarter. AQR Capital Management LLC now owns 573,146 shares of the company’s stock worth $963,000 after purchasing an additional 190,483 shares in the last quarter. Woodline Partners LP lifted its position in shares of Sana Biotechnology by 13.1% during the 1st quarter. Woodline Partners LP now owns 780,656 shares of the company’s stock worth $1,312,000 after buying an additional 90,515 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Sana Biotechnology by 86.8% in the 2nd quarter. Franklin Resources Inc. now owns 93,081 shares of the company’s stock worth $254,000 after buying an additional 43,247 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Sana Biotechnology by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 203,283 shares of the company’s stock worth $555,000 after buying an additional 21,149 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Sana Biotechnology in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

About Sana Biotechnology

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.