HC Wainwright Issues Pessimistic Forecast for Sana Biotechnology (NASDAQ:SANA) Stock Price

Sana Biotechnology (NASDAQ:SANA) had its price target reduced by research analysts at HC Wainwright from $11.00 to $8.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 124.72% from the stock’s current price.

Other analysts also recently issued research reports about the stock. JMP Securities downgraded shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Citigroup increased their price objective on shares of Sana Biotechnology from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Sana Biotechnology Price Performance

NASDAQ:SANA opened at $3.56 on Tuesday. Sana Biotechnology has a one year low of $3.06 and a one year high of $12.00. The company has a market cap of $791.99 million, a PE ratio of -3.10 and a beta of 1.44. The firm’s 50 day simple moving average is $4.42 and its 200 day simple moving average is $5.90.

Sana Biotechnology (NASDAQ:SANA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Equities research analysts expect that Sana Biotechnology will post -1.13 EPS for the current year.

Insiders Place Their Bets

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total transaction of $612,000.00. Following the transaction, the director now directly owns 2,848,121 shares in the company, valued at approximately $11,620,333.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 31.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Sana Biotechnology

Large investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in Sana Biotechnology by 14.8% in the first quarter. ProShare Advisors LLC now owns 32,690 shares of the company’s stock worth $327,000 after acquiring an additional 4,210 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sana Biotechnology by 20.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,858 shares of the company’s stock worth $163,000 after purchasing an additional 5,090 shares in the last quarter. Arizona State Retirement System grew its position in Sana Biotechnology by 36.7% in the 2nd quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock valued at $202,000 after purchasing an additional 9,940 shares during the period. Blue Trust Inc. increased its stake in Sana Biotechnology by 1,246.6% during the 3rd quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after purchasing an additional 12,154 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Sana Biotechnology during the second quarter worth $73,000. 88.23% of the stock is currently owned by institutional investors and hedge funds.

Sana Biotechnology Company Profile

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.