Sana Biotechnology (NASDAQ:SANA) Stock Price Down 6.7% – Should You Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA) fell 6.7% during mid-day trading on Tuesday. The company traded as low as $2.44 and last traded at $2.4450. Approximately 1,904,159 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 3,210,040 shares. The stock had previously closed at $2.62.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Sana Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. TD Cowen raised shares of Sana Biotechnology to a “strong-buy” rating in a research note on Monday, August 24th. Wall Street Zen lowered shares of Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Finally, Bank of America dropped their target price on shares of Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.33.

Sana Biotechnology Trading Down 3.3%

The firm has a 50-day moving average of $3.34 and a 200 day moving average of $3.30. The company has a market cap of $697.51 million, a P/E ratio of -3.07 and a beta of 2.18.

Sana Biotechnology (NASDAQ:SANA) last issued its earnings results on Monday, August 10th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. On average, equities analysts predict that Sana Biotechnology, Inc. will post -0.72 EPS for the current year.

Institutional Trading of Sana Biotechnology

Hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its position in shares of Sana Biotechnology by 74.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock valued at $39,000 after acquiring an additional 4,088 shares during the period. Royal Bank of Canada boosted its stake in Sana Biotechnology by 76.8% during the first quarter. Royal Bank of Canada now owns 12,285 shares of the company’s stock worth $35,000 after acquiring an additional 5,338 shares in the last quarter. Swiss National Bank boosted its stake in Sana Biotechnology by 2.0% during the first quarter. Swiss National Bank now owns 342,600 shares of the company’s stock worth $987,000 after acquiring an additional 6,800 shares in the last quarter. Cetera Investment Advisers grew its holdings in Sana Biotechnology by 50.2% in the first quarter. Cetera Investment Advisers now owns 26,181 shares of the company’s stock worth $75,000 after purchasing an additional 8,750 shares during the period. Finally, Walleye Capital LLC acquired a new stake in Sana Biotechnology in the second quarter worth $35,000. Institutional investors own 88.23% of the company’s stock.

About Sana Biotechnology

Sana Biotechnology, Inc is a biotechnology company focused on developing engineered cell and gene therapies intended to treat diseases with significant unmet medical needs. The company’s approach is designed to enable the delivery of functional cells or genetic material to patients while addressing challenges such as immune rejection, manufacturing complexity and the need for repeated treatment.

Sana’s research programs include both ex vivo therapies, in which cells are modified outside the body before being administered to a patient, and in vivo therapies, which are designed to modify or deliver therapeutic material directly within the body.