Sana Biotechnology (NASDAQ:SANA) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Sana Biotechnology reported earnings of ($0.16) per share, surpassing estimates by $0.04, indicating a positive performance in its latest quarterly report.
• Despite the earnings beat, shares fell by 2.7% to $2.92, with an annual trading range between $1.26 and $7.30.
• Analysts maintain a generally favorable outlook, with a consensus average price target set at $8.00 and several ratings of "buy" from multiple research firms.

Sana Biotechnology (NASDAQ:SANA - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04, Zacks reports.

Sana Biotechnology Stock Down 2.2%

NASDAQ SANA traded down $0.08 during trading hours on Friday, hitting $3.36. 735,598 shares of the company were exchanged, compared to its average volume of 5,942,804. The company has a 50 day moving average of $3.55 and a two-hundred day moving average of $2.69. Sana Biotechnology has a 52-week low of $1.26 and a 52-week high of $7.30. The firm has a market cap of $797.85 million, a price-to-earnings ratio of -3.13 and a beta of 1.90.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley initiated coverage on Sana Biotechnology in a research report on Thursday, July 3rd. They set an "overweight" rating and a $12.00 target price for the company. JMP Securities restated a "market outperform" rating and issued a $5.00 price target on shares of Sana Biotechnology in a research report on Tuesday, June 24th. Finally, HC Wainwright reiterated a "buy" rating and issued a $11.00 target price on shares of Sana Biotechnology in a research note on Thursday, April 24th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $8.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Sana Biotechnology by 136.7% during 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 in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Sana Biotechnology in the second quarter valued at $1,916,000. Woodline Partners LP boosted its holdings in Sana Biotechnology by 13.1% in the first quarter. Woodline Partners LP now owns 780,656 shares of the company's stock valued at $1,312,000 after acquiring an additional 90,515 shares during the last quarter. Invesco Ltd. boosted its holdings in Sana Biotechnology by 64.8% in the second quarter. Invesco Ltd. now owns 272,981 shares of the company's stock valued at $745,000 after acquiring an additional 107,335 shares during the last quarter. Finally, Brevan Howard Capital Management LP lifted its stake in shares of Sana Biotechnology by 85.3% during the second quarter. Brevan Howard Capital Management LP now owns 260,723 shares of the company's stock worth $712,000 after purchasing an additional 120,016 shares in the last quarter. Hedge funds and other institutional investors 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.