Alphabet Inc. Makes New $9.82 Million Investment in Sana Biotechnology, Inc. $SANA

Key Points

• Alphabet acquired a new 2.81 million-share stake in Sana Biotechnology during the second quarter, valued at approximately $9.82 million and representing 1.01% of Sana’s outstanding shares.
• Analyst sentiment remains mixed but leans positive: Sana has a consensus “Moderate Buy” rating and an average price target of $9.33, despite Bank of America cutting its target to $6 and some firms issuing sell ratings.
• Sana shares opened at $3.68 and were up 3.7%, while the clinical-stage biotech reported a quarterly loss of $0.13 per share—better than the expected $0.15 loss.

Alphabet Inc. purchased a new stake in Sana Biotechnology, Inc. (NASDAQ:SANA - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 2,812,500 shares of the company's stock, valued at approximately $9,816,000. Sana Biotechnology comprises about 0.0% of Alphabet Inc.'s portfolio, making the stock its 22nd largest position. Alphabet Inc. owned 1.01% of Sana Biotechnology at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Walleye Capital LLC purchased a new stake in shares of Sana Biotechnology during the 2nd quarter valued at $35,000. Royal Bank of Canada boosted its holdings in Sana Biotechnology by 76.8% in the first quarter. Royal Bank of Canada now owns 12,285 shares of the company's stock valued at $35,000 after acquiring an additional 5,338 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Sana Biotechnology during the third quarter valued at about $36,000. Rockefeller Capital Management L.P. grew its position in Sana Biotechnology by 74.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 9,588 shares of the company's stock valued at $39,000 after acquiring an additional 4,088 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Sana Biotechnology during the third quarter valued at about $39,000. Hedge funds and other institutional investors own 88.23% of the company's stock.

Analysts Set New Price Targets

SANA has been the subject of several recent research reports. Bank of America lowered their price target on Sana Biotechnology from $7.00 to $6.00 and set a "buy" rating for the company in a report on Friday. Weiss Ratings raised Sana Biotechnology from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 23rd. Rodman & Renshaw initiated coverage on Sana Biotechnology in a research note on Monday, May 11th. They issued a "buy" rating and a $16.00 target price for the company. Finally, Wall Street Zen lowered Sana Biotechnology from a "hold" rating to a "sell" rating in a research note on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.33.

Sana Biotechnology Trading Up 3.7%

SANA stock opened at $3.68 on Tuesday. The stock's 50 day simple moving average is $3.39 and its 200 day simple moving average is $3.43. Sana Biotechnology, Inc. has a 12-month low of $2.61 and a 12-month high of $6.55. The firm has a market cap of $1.10 billion, a P/E ratio of -4.84 and a beta of 2.16.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. On average, research analysts forecast that Sana Biotechnology, Inc. will post -0.58 EPS for the current fiscal year.

About Sana Biotechnology

Sana Biotechnology is a clinical-stage biopharmaceutical company focused on the development of engineered cells as medicines with the goal of treating a broad range of diseases. The company applies advanced gene editing and gene delivery technologies to create next-generation cell therapy products for oncology, genetic disorders and other serious diseases. By leveraging both ex vivo and in vivo approaches, Sana aims to repair or replace damaged cells and restore healthy tissue function.

The company's core platform integrates proprietary gene writing capabilities alongside established gene editing tools such as CRISPR–Cas9.

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