Invesco Ltd. Purchases 117,144 Shares of Sana Biotechnology, Inc. $SANA

Key Points

• Invesco Ltd. increased its holdings in Sana Biotechnology by 241.5%, acquiring an additional 117,144 shares during the first quarter, now owning a total of 165,646 shares.
• Analysts remain optimistic about the stock, with a consensus rating of "Buy" and an average target price of $8.00, indicating potential growth.
• Despite the positive outlook, Sana Biotechnology's stock recently dipped by 0.7%, opening at $2.96, well below its 52-week high of $7.30.

Invesco Ltd. lifted its holdings in Sana Biotechnology, Inc. (NASDAQ:SANA - Free Report) by 241.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 165,646 shares of the company's stock after acquiring an additional 117,144 shares during the quarter. Invesco Ltd. owned 0.07% of Sana Biotechnology worth $278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SANA. Tower Research Capital LLC TRC raised its holdings in Sana Biotechnology by 229.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock valued at $25,000 after buying an additional 10,548 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Sana Biotechnology in the 4th quarter worth about $29,000. Pallas Capital Advisors LLC purchased a new stake in shares of Sana Biotechnology in the 1st quarter worth about $29,000. BNP Paribas Financial Markets purchased a new stake in shares of Sana Biotechnology in the 4th quarter worth about $34,000. Finally, Focus Partners Wealth bought a new position in Sana Biotechnology in the 4th quarter worth about $35,000. 88.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JMP Securities restated a "market outperform" rating and set a $5.00 target price on shares of Sana Biotechnology in a research note on Tuesday, June 24th. Morgan Stanley began coverage on shares of Sana Biotechnology in a report on Thursday, July 3rd. They issued an "overweight" rating and a $12.00 target price for the company. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $8.00.

Sana Biotechnology Stock Down 0.7%

Shares of SANA opened at $2.96 on Monday. The company has a market cap of $703.92 million, a PE ratio of -2.79 and a beta of 1.88. The business has a fifty day moving average of $3.71 and a 200 day moving average of $2.70. Sana Biotechnology, Inc. has a 52-week low of $1.26 and a 52-week high of $7.30.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.04. As a group, research analysts anticipate that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current fiscal year.

About Sana Biotechnology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.