Sana Biotechnology (NASDAQ:SANA) Posts 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) issued its quarterly earnings data on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04, Zacks reports.

Sana Biotechnology Trading Down 2.7%

Shares of Sana Biotechnology stock traded down $0.08 on Monday, reaching $2.92. The stock had a trading volume of 6,029,273 shares, compared to its average volume of 6,004,861. Sana Biotechnology has a 1 year low of $1.26 and a 1 year high of $7.30. The company has a market cap of $658.40 million, a P/E ratio of -3.32 and a beta of 1.90. The business's 50 day moving average is $3.50 and its two-hundred day moving average is $2.68.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sana Biotechnology stock. Woodline Partners LP lifted its position in Sana Biotechnology, Inc. (NASDAQ:SANA - Free Report) by 13.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 780,656 shares of the company's stock after purchasing an additional 90,515 shares during the period. Woodline Partners LP owned about 0.35% of Sana Biotechnology worth $1,312,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 88.23% of the company's stock.

Analysts Set New Price Targets

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

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.

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