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

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

Several other equities research analysts also recently weighed in on the stock. Bank of America lifted their price target on shares of Sana Biotechnology from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sana Biotechnology in a research report on Monday, December 29th. Wedbush upped their price target 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 cut Sana Biotechnology from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, HC Wainwright decreased their target price on shares of Sana Biotechnology from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sana Biotechnology currently has a consensus rating of “Moderate Buy” and an average price target of $7.83.

Institutional Investors Weigh In On Sana Biotechnology

Several large investors have recently modified their holdings of SANA. TD Waterhouse Canada Inc. purchased a new position in Sana Biotechnology in the third quarter valued at approximately $37,000. LRI Investments LLC purchased a new stake in Sana Biotechnology in the 4th quarter worth about $41,000. Jacobi Capital Management LLC bought a new stake in Sana Biotechnology in the 4th quarter valued at about $41,000. Mercer Global Advisors Inc. ADV purchased a new stake in Sana Biotechnology during the third quarter valued at about $36,000. Finally, Foguth Wealth Management LLC. bought a new position in Sana Biotechnology during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Stock Down 9.4%

The stock has a market cap of $921.64 million, a P/E ratio of -3.57 and a beta of 1.96. The business’s 50-day simple moving average is $4.30 and its two-hundred day simple moving average is $4.14.

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

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.