Citi Remains Bullish on Sana Biotechnology (SANA)

Sana Biotechnology, Inc. (NASDAQ:SANA) is one of the best biotech penny stocks to buy right now. Citi analyst Samantha Semenkow maintained a bullish stance on Sana Biotechnology, Inc. (NASDAQ:SANA), giving it a Buy rating on July 2 with a $15 price target.

A scientist working with a microscope in a laboratory, focusing on a cell of a medical experiment.

The analyst based the rating on Sana Biotechnology, Inc.’s (NASDAQ:SANA) potential in addressing notable market opportunities.

Semenkow stated that the company’s  Type 1 Diabetes (T1D) program has exhibited considerable proof-of-concept results, with updated six-month data showing durable c-peptide production and successful graft survival without the need for immunosuppression.

According to the analyst, this data consistency bolsters confidence in Sana Biotechnology, Inc.’s (NASDAQ:SANA) approach and paints a positive picture for its T1D asset, SC451, anticipated to make progress towards an IND as early as 2026.

The same day, Morgan Stanley analyst Maxwell Skor also assumed coverage of Sana Biotechnology, Inc. (NASDAQ:SANA) with an Overweight rating and $12 price target. The analyst expects an investigational new drug filing as early as next year for its proprietary HIP-modified, islet stem-cell derived T1D therapy, SC451.

Sana Biotechnology (NASDAQ:SANA) is a biotechnology company that specializes in using engineered cells as medicines. It develops cell engineering programs that transform treatment across several therapeutic areas with treatment gaps, including diabetes, oncology, the central nervous system, and B-cell-mediated autoimmune disorders.

While we acknowledge the potential of SANA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SANA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.