TD Asset Management Inc Cuts Stock Position in Sana Biotechnology, Inc. (NASDAQ:SANA)

Key Points

• TD Asset Management Inc has reduced its holdings in Sana Biotechnology (NASDAQ:SANA) by 23.6%, bringing its ownership down to approximately 309,034 shares worth $519,000.
• Shares of Sana Biotechnology increased by 8.2%, reaching an opening price of $4.23, while the company has a market capitalization of $953.78 million.
• Analysts have generally maintained a "buy" rating for SANA, with target prices ranging from $5.00 to $12.00, indicating strong growth potential moving forward.

TD Asset Management Inc cut its holdings in shares of Sana Biotechnology, Inc. (NASDAQ:SANA - Free Report) by 23.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,034 shares of the company's stock after selling 95,314 shares during the period. TD Asset Management Inc owned about 0.14% of Sana Biotechnology worth $519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SANA. KLP Kapitalforvaltning AS purchased a new stake in Sana Biotechnology during the fourth quarter worth about $39,000. Geode Capital Management LLC increased its stake in Sana Biotechnology by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 3,193,081 shares of the company's stock worth $5,206,000 after purchasing an additional 26,601 shares during the period. ExodusPoint Capital Management LP increased its stake in shares of Sana Biotechnology by 174.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 272,908 shares of the company's stock worth $445,000 after buying an additional 173,442 shares during the period. Wells Fargo & Company MN increased its stake in shares of Sana Biotechnology by 51.0% during the fourth quarter. Wells Fargo & Company MN now owns 62,021 shares of the company's stock worth $101,000 after buying an additional 20,950 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of Sana Biotechnology during the fourth quarter worth approximately $25,000. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

Sana Biotechnology Trading Up 8.2%

Shares of SANA opened at $4.23 on Tuesday. The firm has a market cap of $953.78 million, a PE ratio of -4.81 and a beta of 1.90. The company's 50 day simple moving average is $3.37 and its 200-day simple moving average is $2.68. Sana Biotechnology, Inc. has a 12-month low of $1.26 and a 12-month high of $7.30.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.02. As a group, equities research analysts forecast that Sana Biotechnology, Inc. will post -1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SANA. HC Wainwright restated a "buy" rating and set a $11.00 target price on shares of Sana Biotechnology in a research note on Thursday, April 24th. 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. Finally, Morgan Stanley initiated coverage on shares of Sana Biotechnology in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $12.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $9.17.

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.

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