Sana Biotechnology (SANA) stock dove on Thursday after the biotechnology company priced shares in a public offering. The underwritten public offering included 20,895,522 shares, and they were priced at $3.35 each. Also included in the offering were pre-funded warrants to purchase 1,492,537 shares of SANA stock that were sold for $3.3499 each and have an exercise price of $0.0001 per share.
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Underwriters also have a 30-day option to acquire another 3,358,208 shares at the public offering price. Sana Biotechnology expects gross proceeds of $75 million from the underwritten public offering. The offering is expected to close on August 8, 2025.
Sana Biotechnology Stock Movement Today
Sana Biotechnology stock was down 23.29% in pre-market trading on Thursday, following a 0.23% drop yesterday. Even so, the shares were still up 160.74% year-to-date but were down 8.8% over the past 12 months.
The drop makes sense, as Sana Biotechnology has diluted the stakes of current shareholders with this offering. The price was also well below its previous closing price of $4.25 per share, further devaluing SANA stock.
Is Sana Biotechnology Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Sana Biotechnology is Strong Buy, based on six Buy ratings over the past three months. With that comes an average SANA stock price target of $9.80, representing a potential 130.59% upside for the shares.
