HC Wainwright Has Lowered Expectations for Sana Biotechnology (NASDAQ:SANA) Stock Price

Sana Biotechnology (NASDAQ:SANA) had its price objective cut by research analysts at HC Wainwright from $11.00 to $8.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 134.60% from the company’s current price.

A number of other research analysts have also issued reports on SANA. Citigroup boosted their target price on Sana Biotechnology from $8.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 9th. JMP Securities cut shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday.

Sana Biotechnology Stock Performance

Shares of Sana Biotechnology stock opened at $3.41 on Tuesday. The company’s fifty day moving average is $4.38 and its two-hundred day moving average is $5.87. Sana Biotechnology has a 1 year low of $2.85 and a 1 year high of $12.00. The company has a market capitalization of $758.62 million, a P/E ratio of -2.97 and a beta of 1.44.

Sana Biotechnology (NASDAQ:SANA) last released its quarterly earnings results 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, equities analysts expect that Sana Biotechnology will post -1.13 earnings per share for the current year.

Insider Transactions at Sana Biotechnology

In related news, Director Richard Mulligan sold 150,000 shares of Sana Biotechnology stock in a transaction that occurred 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 in the company, valued at $11,620,333.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Sana Biotechnology

A number of institutional investors have recently added to or reduced their stakes in SANA. Blue Trust Inc. increased its holdings in Sana Biotechnology by 1,246.6% in the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock valued at $55,000 after buying an additional 12,154 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of Sana Biotechnology in the 3rd quarter worth approximately $67,000. Algert Global LLC purchased a new position in Sana Biotechnology in the 2nd quarter valued at approximately $73,000. XTX Topco Ltd acquired a new position in Sana Biotechnology during the second quarter worth $100,000. Finally, Dark Forest Capital Management LP boosted its position in Sana Biotechnology by 112.0% during the second quarter. Dark Forest Capital Management LP now owns 27,314 shares of the company’s stock worth $149,000 after purchasing an additional 14,430 shares in the last quarter. Hedge funds and other 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.