Chardan Capital Markets analyst raised the price target on Senti Biosciences, Inc. (NASDAQ: SNTI) to $12.00 (from $10.00) while maintaining a Buy rating.
The analyst from Chardan Capital Markets expressed that the initial data are seen as promising due to the correlation between MRD-negative complete remission and improved outcomes in AML cases. The safety profile was also considered reasonable, and given the high unmet need in this area, the results are particularly noteworthy.
In light of the detailed review of the data, the analyst has increased the probability of success (PoS) for SENTI-202 to 35% from the previous 25%. This increased confidence in the potential success of the treatment is the driving factor behind the new price target for Senti Biosciences shares.
InvestingPro analysis suggests the stock is currently trading above its Fair Value, with additional insights available including 13 more ProTips that could help investors make informed decisions about this volatile biotech stock. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with additional insights available including 13 more ProTips that could help investors make informed decisions about this volatile biotech stock.
In other recent news, Senti Biosciences has been making headlines with a series of developments. The biotech firm has recently appointed a new board member and audit chair, Schulz, who brings over 35 years of experience from Ernst & Young (EY) to the table. Her appointment comes in conjunction with the departure of Dr. Omid Farokhzad from the Board.
In addition to the board changes, Senti Biosciences has been flagged by Nasdaq for non-compliance with audit committee requirements. The company received a notice due to having only two members in its audit committee, a shortfall from the required three members, following the resignation of Susan Berland from the Board.
To regain compliance, the company has been granted a cure period, which ends either at the company's next annual stockholders' meeting or by June 11, 2025.
The company has expressed its intent to fill the vacancy on the audit committee within the given timeframe. These are recent developments that have been disclosed in the company's filings with the U.S. Securities and Exchange Commission. The company's plans to address the non-compliance issue are subject to risks and uncertainties that could affect business and financial results.
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