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

Sana Biotechnology, Inc. (NASDAQ:SANA) was down 4.7% during trading on Wednesday. The company traded as low as $2.34 and last traded at $2.3150. Approximately 1,083,803 shares traded 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen upgraded shares of Sana Biotechnology to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sana Biotechnology in a research report on Wednesday, October 21st. Wall Street Zen raised shares of Sana Biotechnology from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Bank of America decreased their price target 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 equities 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 assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.60.

Sana Biotechnology Price Performance

The company has a market cap of $699.66 million, a PE ratio of -4.41 and a beta of 2.30. The company has a 50-day moving average price of $2.82 and a two-hundred day moving average price of $3.33.

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

Institutional Trading of Sana Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of SANA. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sana Biotechnology during the 3rd quarter worth approximately $45,000. China Universal Asset Management Co. Ltd. grew its holdings in Sana Biotechnology by 23.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,622 shares of the company’s stock worth $159,000 after acquiring an additional 10,332 shares during the period. T3 Companies LLC raised its position in Sana Biotechnology by 162.8% in the third quarter. T3 Companies LLC now owns 29,700 shares of the company’s stock worth $87,000 after acquiring an additional 18,400 shares in the last quarter. Abel Hall LLC bought a new stake in shares of Sana Biotechnology in the 3rd quarter worth approximately $35,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Sana Biotechnology during the 2nd quarter valued at $54,000. 88.23% of the stock is owned by institutional investors and hedge funds.

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.