8 Penny Stocks with Biggest Upside Potential According to Analysts

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

Share Price: $4.33

Upside Potential: 252.94%

Number of Hedge Fund Holders: 15

Sana Biotechnology (NASDAQ:SANA) is a biotechnology company that specializes in using engineering 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.

The company boasts a pipeline of clinical product candidates focused on creating transformative ex vivo therapies across several therapeutic areas, including SC255, SC262, SC291, UP421, SC 451, and C379. SC255 treats multiple myeloma and is a B-cell maturation antigen-directed allogeneic CAR T, while SC262 is a hyperimmune-modified CD22-directed allogeneic CAR T program. SC262 is initially used as a potential treatment for relapsed and/or refractory B-cell malignancies.

Sana Biotechnology (NASDAQ:SANA) is also applying its technology to donor-derived T cells for use as allogeneic cell therapies for hematologic malignancies. The hypoimmune platform deals with one of the primary challenges of allogeneic cell transplantation and holds the potential to affect a wide array of diseases. It has four ongoing trials and is making continual progress with them. It is accelerating investments to decrease its reliance on external manufacturing because of the ongoing geopolitical uncertainty, increase its clinical trial site footprint across the globe, and boost investments to develop its pivotal-ready supply chain.

It is committed to excellence, and is thus enrolling patients in the GLEAM trial for SC291 in B-cell mediated autoimmune diseases. The trial is expected to report initial clinical data in 2024. In addition, it is continuing to advance its hypoimmune technology in four trials across several indicators in oncology, type 1 diabetes, and B-cell-mediated autoimmune diseases.

The company is also enrolling patients in two oncology trials: VIVID for SC262 in relapsed/refractory B-cell malignancies and ARDENT for SC291 in B-cell malignancies. It is also expecting to report initial clinical data for its investigator-sponsored trial with hypoimmune-modified primary islet cells in 2024. Such continued initiatives give the company a competitive edge, positioning it as one of the best penny stocks with the biggest upside potential according to analysts.