In a report released today, Reni Benjamin from JMP Securities reiterated a Buy rating on Sana Biotechnology (SANA – Research Report), with a price target of $8.00.
Reni Benjamin has given his Buy rating due to a combination of factors surrounding Sana Biotechnology’s promising developments and financial position. He bases his positive outlook on the company’s recent presentation of preclinical data for their novel HIP CD22 targeted CAR T cell therapy, SC262, along with the steady enrollment for SC291, and the upcoming preliminary results from their modified pancreatic islet cell IST program. Benjamin also notes the company’s robust cash reserves, which bolster confidence in their ability to continue operations and research without immediate financial pressure. This assessment is made in the context of the stock’s recent underperformance, which he sees as an opportunity for investors.
Furthermore, Benjamin’s recommendation reflects the potential of SC262 to move into clinical trials, given its demonstrated ability to evade both innate and adaptive immune responses, which is a significant advantage in the field of immunotherapies. The therapy’s comparable efficacy to unedited CD22 directed CAR T cell therapy, without the associated complications of cGvHD, further supports its clinical promise. Benjamin also points to the partial response observed in SANA’s SC291 program as an encouraging sign for SC262’s future success. With expectations set for the submission of an IND by the end of the year and clinical data updates in the second half of the following year, there’s an anticipation of continued progress that underpins the Buy rating.
Benjamin covers the Healthcare sector, focusing on stocks such as Sana Biotechnology, Iovance Biotherapeutics, and Sutro Biopharma. According to TipRanks, Benjamin has an average return of -13.7% and a 29.35% success rate on recommended stocks.
In another report released on December 3, Citi also maintained a Buy rating on the stock with a $8.00 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 Highlights Preclinical Data Supporting Tumor Control and Immune Evasion Capabilities of Hypoimmune-Modified Allogeneic CAR T Cells in Presentations at the American Society of Hematology Annual Meeting
- Sana Biotechnology publishes data showing SC291 evaded immune detection
- Sana Biotechnology to Present at November and December 2023 Investor Conferences
- Uppsala University Hospital and Sana Biotechnology Announce Authorization of the First-in-Human Clinical Trial Application for a Primary Islet Cell Treatment for Patients with Type 1 Diabetes
- Sana, Uppsala announce authorization of first-in-human study of UP421
