11 Must-Buy Penny Stocks to Buy Now

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8. Sana Biotechnology, Inc. (NASDAQ:SANA)

Share Price as of November 17: $3.84

Upside Potential: 75.54%

Number of Hedge Fund Holders: 16

Sana Biotechnology Inc. (NASDAQ:SANA) is a must-buy penny stock according to analysts. On November 7, Bank of America Securities analyst Alec Stranahan reaffirmed a Buy rating on Sana Biotechnology (NASDAQ: SANA) and set a price target of $6.00.

TD Cowen analyst Marc Frahm also maintained a Buy rating on Sana Biotechnology Inc., citing the company’s decision to focus on its high‑potential SC451 program while pausing allogeneic CAR T development to conserve cash, extending its runway into late 2026.

Management has gained FDA clarity on key steps toward an IND filing for SC451 in 2026 and is advancing its SG293 program, with an IND possible by 2027. With a cash position of $170 million, these moves highlight Sana’s strategic focus and financial stability, supporting Frahm’s bullish stance.

Earlier, on October 30 analysts at Citizens initiated coverage of Sana Biotechnology Inc. with a Market Perform rating. The positive stance comes on the heels of EMJ Capital Eric Jackson reiterating that the company has what it takes to be the next 100-bagger platform.

Jackson sees Sana Biotechnology becoming a $100 billion company, driven by its diabetes therapy reaching 10% of the global Type 1 diabetes population, for $100,000 per patient. With $143 million in cash as of August, the company also remains in a solid financial position to enhance its diabetes program.

Sana Biotechnology, Inc. (NASDAQ:SANA) develops engineered cells as medicines to treat diseases, focusing on therapies that repair genes, replace damaged cells, and address conditions like cancer, diabetes, and autoimmune disorders. It employs a cell therapy approach, where cells are collected and modified outside the body (ex vivo).

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