Morgan Stanley Initiates Coverage on Sana Biotechnology (NASDAQ:SANA)

Morgan Stanley began coverage on shares of Sana Biotechnology (NASDAQ:SANA - Get Free Report) in a report issued on Thursday, Marketbeat reports. The firm set an "overweight" rating and a $12.00 price target on the stock. Morgan Stanley's target price would indicate a potential upside of 275.59% from the stock's previous close.

Several other brokerages also recently commented on SANA. Citizens Jmp raised Sana Biotechnology from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research report on Tuesday, March 18th. JMP Securities reaffirmed a "market outperform" rating and issued a $5.00 price objective on shares of Sana Biotechnology in a research report on Tuesday, June 24th. Jefferies Financial Group assumed coverage on Sana Biotechnology in a research report on Friday, March 14th. They issued a "buy" rating and a $7.00 price objective on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $11.00 price target on shares of Sana Biotechnology in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $9.17.

Sana Biotechnology Trading Up 9.4%

Shares of NASDAQ SANA traded up $0.28 during trading hours on Thursday, hitting $3.20. 6,180,967 shares of the company traded hands, compared to its average volume of 3,758,643. The stock has a market capitalization of $720.41 million, a price-to-earnings ratio of -3.63 and a beta of 1.86. The company's 50 day moving average price is $2.32 and its 200 day moving average price is $2.40. Sana Biotechnology has a 12 month low of $1.26 and a 12 month high of $7.40.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. Equities analysts anticipate that Sana Biotechnology will post -1.16 EPS for the current year.

Institutional Trading of Sana Biotechnology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its holdings in Sana Biotechnology by 229.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,136 shares of the company's stock worth $25,000 after acquiring an additional 10,548 shares during the period. Cerity Partners LLC acquired a new stake in Sana Biotechnology during the fourth quarter worth about $25,000. Syon Capital LLC acquired a new stake in Sana Biotechnology during the fourth quarter worth about $27,000. Pallas Capital Advisors LLC acquired a new stake in Sana Biotechnology during the first quarter worth about $29,000. Finally, Ameriprise Financial Inc. acquired a new stake in Sana Biotechnology during the fourth quarter worth about $29,000. 88.23% of the stock is owned by institutional investors and hedge funds.

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.