Sana Biotechnology (NASDAQ:SANA) Shares Down 5.8%

Sana Biotechnology, Inc. (NASDAQ:SANA) fell 5.8% on Wednesday . The stock traded as low as $6.38 and last traded at $6.46. 49,711 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 2,588,394 shares. The stock had previously closed at $6.86.

Analyst Ratings Changes

SANA has been the topic of several research reports. Rodman & Renshaw assumed coverage on Sana Biotechnology in a research note on Wednesday, June 26th. They set a “buy” rating and a $16.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Sana Biotechnology in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.75.

Sana Biotechnology Price Performance

The firm has a market cap of $1.40 billion, a P/E ratio of -4.22 and a beta of 1.45. The stock’s 50 day moving average is $6.81 and its two-hundred day moving average is $7.52.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). As a group, research analysts forecast that Sana Biotechnology, Inc. will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sana Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in SANA. New York State Common Retirement Fund boosted its position in Sana Biotechnology by 5.4% in the fourth quarter. New York State Common Retirement Fund now owns 40,564 shares of the company’s stock valued at $166,000 after buying an additional 2,082 shares in the last quarter. Arizona State Retirement System increased its position in Sana Biotechnology by 12.2% in the 4th quarter. Arizona State Retirement System now owns 27,527 shares of the company’s stock valued at $112,000 after acquiring an additional 2,991 shares in the last quarter. ProShare Advisors LLC boosted its position in Sana Biotechnology by 14.8% in the 1st quarter. ProShare Advisors LLC now owns 32,690 shares of the company’s stock valued at $327,000 after buying an additional 4,210 shares during the last quarter. Simplex Trading LLC raised its position in shares of Sana Biotechnology by 31.3% during the fourth quarter. Simplex Trading LLC now owns 18,080 shares of the company’s stock worth $73,000 after acquiring an additional 4,313 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sana Biotechnology by 42.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,257 shares of the company’s stock valued at $66,000 after acquiring an additional 4,815 shares during the period. Institutional investors and hedge funds own 88.23% of the company’s stock.

About Sana Biotechnology

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.