Brokerages Set Sana Biotechnology, Inc. (NASDAQ:SANA) Target Price at $9.50

Sana Biotechnology, Inc. (NASDAQ:SANA) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several analysts have recently commented on SANA shares. Wall Street Zen lowered Sana Biotechnology from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Morgan Stanley restated an “overweight” rating and set a $12.00 target price on shares of Sana Biotechnology in a research note on Friday, March 13th. Rodman & Renshaw started coverage on Sana Biotechnology in a research report on Monday, May 11th. They set a “buy” rating and a $16.00 target price on the stock. Weiss Ratings cut Sana Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Finally, Wedbush raised their price target on Sana Biotechnology from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th.

Hedge Funds Weigh In On Sana Biotechnology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in Sana Biotechnology by 148.4% in the 1st quarter. Bank of America Corp DE now owns 2,946,861 shares of the company’s stock worth $8,487,000 after purchasing an additional 1,760,610 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Sana Biotechnology by 76.8% in the first quarter. Royal Bank of Canada now owns 12,285 shares of the company’s stock worth $35,000 after buying an additional 5,338 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Sana Biotechnology by 50.2% in the first quarter. Cetera Investment Advisers now owns 26,181 shares of the company’s stock worth $75,000 after buying an additional 8,750 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sana Biotechnology by 118.9% during the first quarter. Dimensional Fund Advisors LP now owns 291,268 shares of the company’s stock worth $839,000 after buying an additional 158,190 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Sana Biotechnology by 2.0% during the first quarter. Swiss National Bank now owns 342,600 shares of the company’s stock worth $987,000 after buying an additional 6,800 shares during the period. 88.23% of the stock is owned by hedge funds and other institutional investors.

Sana Biotechnology Stock Down 3.4%

Shares of Sana Biotechnology stock opened at $3.98 on Thursday. The firm’s 50 day moving average price is $3.25 and its 200-day moving average price is $3.65. Sana Biotechnology has a 52-week low of $2.61 and a 52-week high of $6.55. The company has a market cap of $1.11 billion, a P/E ratio of -4.28 and a beta of 2.13.

Sana Biotechnology (NASDAQ:SANA) last posted its earnings results on Monday, May 11th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. As a group, equities research analysts forecast that Sana Biotechnology will post -0.59 EPS for the current fiscal year.

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.