Morgan Stanley Initiates Coverage on Sana Biotechnology (NASDAQ:SANA)

Investment analysts at Morgan Stanley began coverage on shares of Sana Biotechnology (NASDAQ:SANA) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $12.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 275.59% from the company’s current price.

SANA has been the topic of several other reports. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of Sana Biotechnology in a research report on Thursday, April 24th. Jefferies Financial Group started coverage on shares of Sana Biotechnology in a research report on Friday, March 14th. They set a “buy” rating and a $7.00 target price on the stock. Citizens Jmp upgraded shares of Sana Biotechnology from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Tuesday, March 18th. Finally, JMP Securities restated a “market outperform” rating and set a $5.00 target price on shares of Sana Biotechnology in a research report on Tuesday, June 24th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sana Biotechnology currently has a consensus rating of “Buy” and an average price target of $9.17.

Sana Biotechnology Stock Up 9.4%

Shares of SANA stock opened at $3.20 on Thursday. The stock has a market cap of $720.41 million, a P/E ratio of -3.63 and a beta of 1.86. Sana Biotechnology has a 52 week low of $1.26 and a 52 week high of $7.40. The company’s fifty day simple moving average is $2.32 and its two-hundred day simple moving average is $2.39.

Sana Biotechnology (NASDAQ:SANA) last announced its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. On average, analysts anticipate that Sana Biotechnology will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Sana Biotechnology

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Sana Biotechnology by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,193,081 shares of the company’s stock valued at $5,206,000 after purchasing an additional 26,601 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Sana Biotechnology by 7.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,108,617 shares of the company’s stock worth $5,068,000 after acquiring an additional 219,498 shares in the last quarter. Integral Health Asset Management LLC grew its stake in Sana Biotechnology by 11.1% in the 4th quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company’s stock worth $3,260,000 after acquiring an additional 200,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Sana Biotechnology by 44.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,557,496 shares of the company’s stock worth $2,538,000 after acquiring an additional 478,596 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new position in Sana Biotechnology in the 4th quarter worth about $2,518,000. 88.23% of the stock is currently owned by institutional investors.

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.