H.C. Wainwright ups Sana target after ‘best case scenario’ data

H.C. Wainwright raised the firm’s price target on Sana Biotechnology (SANA) to $11 from $8 and keeps a Buy rating on the shares. The firm increased its probability of sucess for SC451 to 15% from 10% based on today’s data and for SC291 for autoimmune diseases to 20% from 15% based on the Phase 1 data and progress from competitor allogeneic CAR-T programs in the space. The frost patient dosed with hypoimmune islet cells showcased cell survive and function without immunosuppression, the analyst tells investors in a research note. H.C. Wainwright says the patient met all the primary and secondary trial endpoints. It views the data as the “best case scenario” for the initial type 1 diabetes update.