Keay Nakae, an analyst from Chardan Capital, reiterated the Buy rating on SAB Biotherapeutics (SABS – Research Report). The associated price target is $3.00.
Keay Nakae’s rating of Buy for SAB Biotherapeutics is influenced by several key factors. The company’s recently reported 3Q23 financial results showed a cash and equivalents closing at $2.4 million, compared to $15.0 million at the end of 2022. Following this quarter, SAB managed to raise an additional $67.1 million in gross cash, which came from the first two tranches of a private placement offering. This funding could potentially provide up to $110 million in gross proceeds, which would significantly strengthen the company’s financial standing.
Furthermore, the company is making strides in its clinical development, with its SAB-142 therapy set to enter phase I trials. This therapy, developed on SAB’s DiversitAb platform, is a fully human Antithymocyte globulin (ATG) polyclonal antibody immunotherapy candidate. It is designed to have an improved safety profile and potency compared to existing therapies, which could make it a game changer in the treatment of type 1 diabetes. Moreover, the company expects that SAB-142 will be eligible for redosing potentially annually, indicating its potential for long-term use. Given these promising developments and financial standing, Nakae has rated SAB Biotherapeutics with a Buy.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $1.00 price target.
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SAB Biotherapeutics (SABS) Company Description:
Blue Calypso Inc is engaged in the development, sales, delivery and licensing of technology and intellectual property focused on mobile shopper engagement, digital word of mouth and location-based marketing and advertising. Its solutions include mobile engagement, POP and merchandise tracking, mobile plant tag engagement. The company derives its revenues from the cloud-based consumption of its technology platform, consulting fees and licensing of its technologies.
Read More on SABS:
- SAB Biotherapeutics Announces Completion of $67.1 Million Financing to Advance Potential Disease-Modifying Treatment for Type 1 Diabetes
- SAB Biotherapeutics Announces Q3 2023 Financial Results and Provides Company Updates
- SAB Biotherapeutics to Present at Piper Sandler Healthcare Conference
- SAB Biotherapeutics files to sell 412.7M shares of common stock for holders
- SAB Biotherapeutics Appoints Michael G. King Jr. as Chief Financial Officer
