H.C. Wainwright Reiterates Buy Rating on Sana Biotechnology (SANA)

H.C. Wainwright analyst Emily Bodnar reiterated a Buy rating and $8.00 price target on Sana Biotechnology (NASDAQ: SANA).

The analyst commented: "Sana announced 3Q24 earnings and provided a corporate update on November 8. Earlier this week, Sana issued a press release announcing that it is restructuring its pipeline to prioritize development on Type 1 diabetes (T1D) (UP421 and SC451), B-cell driven autoimmune diseases (SC291) and B-cell malignancies (SC262). The company will be de-prioritizing SC291 for treatment of B-cell malignancies and its glial progenitor cell program. The company did not provide any data-related reasons for de-prioritizing the program but stated there is increased competition in blood cancers, and it is seeking a licensing partner to support further development. Refer to our note (see here) for more detail on our thoughts regarding the update. Data for all programs including the GLEAM trial of SC291 for treatment of B-cell autoimmune diseases, VIVID trial of SC262 for treatment of B-cell malignancies, and the investigator sponsored trial evaluating hypoimmune primary islet cells are now all expected in 4Q24 and/or 2025 (from prior guidance of by YE2024). Reiterate Buy rating and $8 PT."

For an analyst ratings summary and ratings history on Sana Biotechnology click here. For more ratings news on Sana Biotechnology click here.

Shares of Sana Biotechnology closed at $3.01 yesterday.

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