Wedbush bullish on Sana Biotechnology, initiates with an Outperform

As previously reported, Wedbush initiated coverage of Sana Biotechnology (SANA) with an Outperform rating and $5 price target Lead candidate SC451 is an off-the-shelf pancreatic islet cell therapy for type 1 diabetes, which can address the limitations of device-based management and islet cell transplant. A second program, SG299, is an in vivo CART cell therapy candidate which may address the hurdles of cost, lymphodepletion, and access associated with current autologous CAR-T approaches. Both programs may enter the clinic as early as 2026, the firm notes. Wedbush views Sana as holding scarcity value for both its immune evasion and in vivo CART platforms, with substantial long-term growth potential.