Sana Biotechnology (NASDAQ:SANA) Shares Up 5.7% After Analyst Upgrade

Key Points

• Sana Biotechnology shares rose 5.7% to roughly $3.99 after TD Cowen upgraded the stock to a Strong Buy rating.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $9.33, despite some recent downgrades and target reductions.
• Institutional investors own 88.23% of the company, while recent quarterly results showed a per-share loss of $0.13—better than the expected $0.15 loss.

Sana Biotechnology, Inc. (NASDAQ:SANA - Get Free Report)'s share price traded up 5.7% on Tuesday after TD Cowen upgraded the stock to a strong-buy rating. The stock traded as high as $4.03 and last traded at $3.9940. 217,738 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 3,107,267 shares. The stock had previously closed at $3.78.

Several other research firms also recently weighed in on SANA. Weiss Ratings upgraded shares of Sana Biotechnology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 23rd. Wall Street Zen cut Sana Biotechnology from a "hold" rating to a "sell" rating in a research note on Monday, July 20th. Bank of America decreased their price target on shares of Sana Biotechnology from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Finally, Rodman & Renshaw assumed coverage on shares of Sana Biotechnology in a research report on Monday, May 11th. They set a "buy" rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.33.

Hedge Funds Weigh In On Sana Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in SANA. BlackRock Inc. purchased a new stake in Sana Biotechnology during the 2nd quarter valued at approximately $58,196,000. Canada Pension Plan Investment Board purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at approximately $35,662,000. Bank of America Corp DE purchased a new position in shares of Sana Biotechnology in the 2nd quarter valued at approximately $20,062,000. Alphabet Inc. acquired a new position in shares of Sana Biotechnology in the second quarter valued at approximately $9,816,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Sana Biotechnology in the fourth quarter valued at approximately $6,834,000. Hedge funds and other institutional investors own 88.23% of the company's stock.

Sana Biotechnology Price Performance

The company has a 50 day moving average price of $3.49 and a 200 day moving average price of $3.41. The firm has a market cap of $1.20 billion, a PE ratio of -5.29 and a beta of 2.16.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. On average, equities analysts anticipate that Sana Biotechnology, Inc. will post -0.72 earnings per share 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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