Post Content
Sana Biotechnology Inc. (NASDAQ:SANA) is one of the best healthcare penny stocks to buy according to hedge funds. On March 16, H.C. Wainwright reiterated Sana Biotechnology (NASDAQ:SANA) as a Buy with a $7 price target.
ldutko/Shutterstock.com
The research firm remains bullish on the company following the topline clinical trial data presented at the Advanced Technologies & Treatments for Diabetes conference. The trial results showed sustained survival and function of pancreatic beta cells.
The company delivered topline results from a 14-month follow-up Phase 1 UP421 IST evaluating allogeneic hypo-immune modified pancreatic islet cells in patients with Type 1 diabetes. The trial results showed a rebound in C-peptide levels comparable to those observed during the initial 6 months of the study, reversing the previous decline.
The positive data have opened the door for the company to file an Initial New Drug Application and initiate Phase 1 for SC451 as early as this year. The company exited the fourth quarter with $138 million in cash reserves, expected to last until the end of the year as it develops its current pipeline.
Sana Biotechnology Inc. (NASDAQ:SANA) is a clinical-stage company developing engineered cell therapies to treat serious diseases by repairing or replacing malfunctioning cells. It focuses on creating “off-the-shelf” (allogeneic) cell therapies that can evade immune detection, primarily targeting Type 1 diabetes, B-cell cancers, and autoimmune disorders, using hypoimmune (HIP) and in vivo gene-delivery technology.
While we acknowledge the potential of SANA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 7 Penny Stocks That Aren’t Scams: Best Cheap Stocks to Buy and 8 Best Small-Cap Value Stocks to Buy According to Analysts.
Disclosure: None. Follow Insider Monkey on Google News.