Citi ups Sana Biotechnology target, opens ‘positive catalyst watch’

Citi raised the firm’s price target on Sana Biotechnology to $15 from $8 and keeps a Buy rating on the shares. The analyst also opened a “90-day positive catalyst watch” on the shares. Sana disclosed it has enrolled multiple type 1 diabetes patients into the trial being conducted in Uppsala, Sweden, the analyst tells investors in a research note. The firm says the update confirms that no patients have been dosed in the study to date, therefore dispelling any concerns surrounding a treatment failure, and that the study is truly underway after a delay from the company’s prior data guidance of the first half of 2024.