Sana Biotechnology (NASDAQ:SANA) Issues Earnings Results

Key Points

• Sana Biotechnology beat earnings expectations, reporting a quarterly loss of $0.13 per share versus the consensus estimate of a $0.15 loss.
• SANA shares rose 2.6% to $3.61 in mid-day trading, while the stock remains well below its 52-week high of $6.55.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $9.50; institutional investors own 88.23% of the company.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02, FiscalAI reports.

Sana Biotechnology Trading Up 2.6%

SANA traded up $0.09 during mid-day trading on Monday, hitting $3.61. 2,419,104 shares of the stock were exchanged, compared to its average volume of 3,144,554. The firm's fifty day moving average is $3.30 and its two-hundred day moving average is $3.48. Sana Biotechnology has a 1-year low of $2.61 and a 1-year high of $6.55. The company has a market cap of $1.00 billion, a PE ratio of -3.88 and a beta of 2.16.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Rodman & Renshaw started coverage on shares of Sana Biotechnology in a research report on Monday, May 11th. They set a "buy" rating and a $16.00 price target for the company. Wall Street Zen lowered Sana Biotechnology from a "hold" rating to a "sell" rating in a research note on Monday, July 20th. Wedbush increased their target price on Sana Biotechnology from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Tuesday, April 14th. Finally, Weiss Ratings raised Sana Biotechnology from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sana Biotechnology presently has an average rating of "Moderate Buy" and an average price target of $9.50.

Institutional Trading of Sana Biotechnology

Hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sana Biotechnology in the third quarter valued at approximately $36,000. Russell Investments Group Ltd. purchased a new position in Sana Biotechnology in the 3rd quarter valued at approximately $39,000. Jacobi Capital Management LLC acquired a new position in shares of Sana Biotechnology in the fourth quarter worth $41,000. BNP Paribas Financial Markets increased its position in shares of Sana Biotechnology by 46.9% during the second quarter. BNP Paribas Financial Markets now owns 15,444 shares of the company's stock worth $42,000 after acquiring an additional 4,931 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Sana Biotechnology by 43.8% in the second quarter. Captrust Financial Advisors now owns 15,793 shares of the company's stock valued at $43,000 after acquiring an additional 4,807 shares in the last quarter. Institutional investors and hedge funds own 88.23% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source