H.C. Wainwright analyst Emily Bodnar reiterated a Buy rating on Sana Biotechnology today and set a price target of $9.00.
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Emily Bodnar’s rating is based on Sana Biotechnology’s strategic focus on developing therapies for type 1 diabetes (T1D) and its promising advancements in this area. The company has prioritized the development of SC451 and its in vivo CD8+ T cell CD19 CAR-T, SG293, while discontinuing other projects that require more extensive resources. This decision aligns with Sana’s unique position in the market, as it is one of the few companies concentrating on genetically modified cell therapies for T1D, which represents a significant untapped market opportunity.
Furthermore, Sana has received encouraging feedback from the FDA, which has provided clarity on their HIP-edited GMP master cell bank and non-clinical testing plan for SC451. The company’s recent positive data from its UP421 study, demonstrating islet cell survival and function without immunosuppression, further supports the potential of its platform. These developments, along with the FDA’s emphasis on T1D therapies, underscore the potential for Sana’s innovative treatments to address unmet needs in the market, justifying the Buy rating.