Sana Biotechnology (NASDAQ:SANA) Earns Outperform Rating from Analysts at Wedbush

Key Points

• Analysts at Wedbush initiated coverage of Sana Biotechnology with an "outperform" rating and a price target of $5.00, suggesting a potential upside of 53.37% from its previous close.
• Sana Biotechnology has received positive ratings from seven analysts, with a consensus target price of $7.50 and a "Buy" rating.
• The company has shown significant investment interest, with institutional investors and hedge funds owning 88.23% of its stock.

Stock analysts at Wedbush began coverage on shares of Sana Biotechnology (NASDAQ:SANA - Get Free Report) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $5.00 price target on the stock. Wedbush's price objective would suggest a potential upside of 53.37% from the stock's previous close.

Other equities analysts have also issued reports about the company. JMP Securities reaffirmed a "market outperform" rating and issued a $5.00 price objective on shares of Sana Biotechnology in a research note on Tuesday, June 24th. Morgan Stanley started coverage on Sana Biotechnology in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $12.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Sana Biotechnology presently has an average rating of "Buy" and a consensus target price of $7.50.

Sana Biotechnology Price Performance

NASDAQ SANA opened at $3.26 on Wednesday. Sana Biotechnology has a 12 month low of $1.26 and a 12 month high of $7.30. The company has a 50-day moving average of $3.61 and a 200-day moving average of $2.74. The company has a market cap of $775.26 million, a P/E ratio of -3.08 and a beta of 1.88.

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

Institutional Investors Weigh In On Sana Biotechnology

Institutional investors and hedge funds have recently bought and sold shares of the business. Marex Group plc bought a new position in shares of Sana Biotechnology during the second quarter valued at approximately $10,423,000. AQR Capital Management LLC increased its position in Sana Biotechnology by 136.7% in the second quarter. AQR Capital Management LLC now owns 1,356,363 shares of the company's stock worth $3,703,000 after buying an additional 783,217 shares during the period. Corient Private Wealth LLC lifted its stake in Sana Biotechnology by 264.7% in the second quarter. Corient Private Wealth LLC now owns 1,136,000 shares of the company's stock valued at $3,101,000 after buying an additional 824,505 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Sana Biotechnology by 11.3% during the fourth quarter. Bank of America Corp DE now owns 1,131,813 shares of the company's stock valued at $1,845,000 after acquiring an additional 115,347 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sana Biotechnology by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,066,304 shares of the company's stock worth $1,791,000 after acquiring an additional 9,792 shares during the last quarter. Institutional investors and hedge funds own 88.23% of the company's stock.

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.

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.