HC Wainwright Lowers Sana Biotechnology (NASDAQ:SANA) Price Target to $8.00

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

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

Sana Biotechnology Stock Performance

NASDAQ SANA opened at $3.56 on Tuesday. The company has a market capitalization of $791.99 million, a PE ratio of -3.10 and a beta of 1.44. Sana Biotechnology has a 52-week low of $3.06 and a 52-week high of $12.00. The company has a 50-day simple moving average of $4.42 and a 200 day simple moving average of $5.90.

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

Insider Buying and Selling

In other Sana Biotechnology news, Director Richard Mulligan sold 150,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $4.08, for a total value of $612,000.00. Following the sale, the director now directly owns 2,848,121 shares of the company’s stock, valued at approximately $11,620,333.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SANA. Susquehanna Fundamental Investments LLC bought a new position in Sana Biotechnology in the 1st quarter valued at approximately $1,343,000. ProShare Advisors LLC lifted its holdings in shares of Sana Biotechnology by 14.8% during the first quarter. ProShare Advisors LLC now owns 32,690 shares of the company’s stock valued at $327,000 after purchasing an additional 4,210 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Sana Biotechnology by 24.1% during the first quarter. Vanguard Group Inc. now owns 12,155,173 shares of the company’s stock valued at $121,552,000 after buying an additional 2,358,089 shares during the last quarter. Capital World Investors increased its holdings in Sana Biotechnology by 255.8% in the 1st quarter. Capital World Investors now owns 5,449,035 shares of the company’s stock worth $54,490,000 after buying an additional 3,917,728 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Sana Biotechnology by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,695,459 shares of the company’s stock worth $36,956,000 after buying an additional 101,434 shares during the last quarter. Institutional investors own 88.23% of the company’s stock.

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.