Sana Biotechnology (NASDAQ:SANA) Stock Price Down 4.7% – Time to Sell?

Sana Biotechnology, Inc. (NASDAQ:SANA)’s stock price fell 4.7% on Wednesday. The stock traded as low as $2.34 and last traded at $2.3150. Approximately 1,083,803 shares changed hands during trading, a decline of 66% from the average session volume of 3,161,324 shares. The stock had previously closed at $2.43.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SANA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Sana Biotechnology in a research report on Wednesday, October 21st. Wall Street Zen upgraded shares of Sana Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday. TD Cowen raised shares of Sana Biotechnology to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Bank of America cut their price objective on Sana Biotechnology from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.60.

Sana Biotechnology Stock Down 3.9%

The firm has a market cap of $699.66 million, a price-to-earnings ratio of -4.41 and a beta of 2.30. The business has a 50 day moving average of $2.82 and a 200 day moving average of $3.33.

Sana Biotechnology (NASDAQ:SANA) last released its earnings results on Thursday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Research analysts predict that Sana Biotechnology, Inc. will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Sana Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of SANA. Rockefeller Capital Management L.P. grew its stake in Sana Biotechnology by 74.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company’s stock worth $39,000 after acquiring an additional 4,088 shares during the period. Walleye Capital LLC acquired a new position in Sana Biotechnology in the second quarter valued at $35,000. Abel Hall LLC acquired a new position in Sana Biotechnology in the third quarter valued at $35,000. Callan Family Office LLC acquired a new position in Sana Biotechnology in the second quarter valued at $43,000. Finally, Royal Bank of Canada lifted its position 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 buying an additional 5,338 shares during the period. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

Sana Biotechnology, Inc. is a clinical-stage biotechnology company founded in 2018 and headquartered in Seattle. It develops engineered cells intended to treat a range of diseases, including cancer, autoimmune disorders and conditions that may be addressed through cell replacement. The company’s research focuses on modifying cells to improve their therapeutic properties, including approaches designed to help transplanted cells evade immune rejection. Its programs include engineered immune-cell therapies and cell-replacement treatments, such as work involving insulin-producing cells for type 1 diabetes.