TD Cowen Upgrades Sana Biotechnology (NASDAQ:SANA) to Buy

Sana Biotechnology (NASDAQ:SANA) was upgraded by investment analysts at TD Cowen from a “hold” rating to a “buy” rating in a report issued on Wednesday, MarketBeat Ratings reports.

Other research analysts have also recently issued reports about the company. JMP Securities downgraded shares of Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Sana Biotechnology in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sana Biotechnology has an average rating of “Moderate Buy” and a consensus price target of $14.25.

Sana Biotechnology Price Performance

NASDAQ:SANA opened at $4.30 on Wednesday. The stock has a market cap of $960.06 million, a P/E ratio of -3.07 and a beta of 1.45. The company has a fifty day moving average price of $2.40 and a 200 day moving average price of $4.07. Sana Biotechnology has a one year low of $1.52 and a one year high of $12.00.

Sana Biotechnology (NASDAQ:SANA) last released its earnings results on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. As a group, equities research analysts anticipate that Sana Biotechnology will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Sana Biotechnology by 26.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 431,744 shares of the company’s stock worth $2,357,000 after purchasing an additional 90,423 shares in the last quarter. Rhumbline Advisers grew its stake in Sana Biotechnology by 16.0% during the second quarter. Rhumbline Advisers now owns 181,903 shares of the company’s stock worth $993,000 after buying an additional 25,056 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Sana Biotechnology by 36.7% during the second quarter. Arizona State Retirement System now owns 37,028 shares of the company’s stock worth $202,000 after buying an additional 9,940 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Sana Biotechnology in the second quarter valued at approximately $100,000. Finally, Ensign Peak Advisors Inc bought a new stake in Sana Biotechnology during the 2nd quarter worth approximately $372,000. 88.23% of the stock is 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.