JMP Securities analyst Reni Benjamin upgraded the rating on Sana Biotechnology (SANA – Research Report) to a Buy today, setting a price target of $5.00.
Reni Benjamin has given his Buy rating due to a combination of factors that highlight Sana Biotechnology’s promising developments and financial positioning. The recent three-month follow-up results from their modified pancreatic islet cell program have shown positive outcomes, reinforcing the potential of their HIP platform in treating Type 1 Diabetes. This progress, alongside the anticipation of SC291 data for autoimmune diseases expected in 2025, positions Sana as an undervalued stock, especially after some retracement in its share price.
Furthermore, Sana’s financial health, with a cash reserve of $152.5 million, supports their ongoing research and development efforts. Despite reporting no revenues for 4Q24, the company’s strategic focus on advancing their pipeline, including the planned IND submissions for their in-vivo CART program and SC451, underscores their commitment to innovation. These elements, combined with the potential for significant advancements in their CART programs, contribute to the optimistic outlook and the Buy rating from Reni Benjamin.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SANA in relation to earlier this year.