Sana Biotechnology (SANA) has received a new Buy rating, initiated by Citi analyst, Samantha Semenkow.
Samantha Semenkow has given her Buy rating due to a combination of factors that are favorable for Sana Biotechnology.
Firstly, the recent restructuring announcement from Sana Biotechnology is seen as a positive development. This is because it indicates a heightened confidence in the company’s hypoimmune platform. Confirmations from the management have revealed initial translational clinical data from the Phase 1 ARDENT trial for SC291 in LBCL. This suggests that hypoimmune modified cells have the ability to evade immune detection at least in an acute setting. Another reason why the restructuring is perceived positively is that it enables Sana to decrease its cash burn rate and extend its cash runway further into 2025.
Secondly, Sana is expected to report initial Phase 1 ARDENT data by the end of 2023. The restructuring has no impact on Semenkow’s views from a risk-adjusted revenue perspective, as the Fusogen platform is not included in her model. Moreover, the company has reiterated its guidance for initial investigator sponsored trial data for Type 1 diabetes, which is also expected to be presented by the end of 2023. Despite potential delays, this is not viewed negatively, as initial data could validate the hypoimmune platform, which could in turn lead to potential share appreciation. Therefore, given these factors, Semenkow has rated Sana Biotechnology with a Buy rating.
In another report released on September 25, JMP Securities also initiated coverage with a Buy rating on the stock with a $9.00 price target.
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Sana Biotechnology (SANA) Company Description:
Sana Biotechnology Inc is a biotechnology company. The company develops engineered cells as medicines and therapies to treat diseases.
Read More on SANA:
- Sana Biotechnology Announces Increased Focus on Hypoimmune-Related Pipeline with the Potential to Deliver Clinical Proof of Concept Data from Four Programs in 2023 and 2024 with a 2024 Operating Burn under $200M
- Sana Biotechnology initiated with an Outperform at JMP Securities
- Sana Biotechnology initiated with a Buy at Citi
- Sana Biotechnology to Present at September 2023 Investor Conferences
- Sana Biotechnology initiated with a Market Perform at TD Cowen
