Sana Biotech surges as Eric Jackson calls it a 100-bagger

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Shares of Sana Biotechnology (NASDAQ:SANA [https://seekingalpha.com/symbol/SANA]) climbed ~24% in the morning hours on Wednesday, triggering several trading halts after Canadian hedge fund manager Eric Jackson said that he is long the stock and the cell therapy developer could be a potential “100-bagger.”

Jackson, whose social media posts led to a trading explosion of online real estate service Opendoor (OPEN [https://seekingalpha.com/symbol/OPEN]) in July, argued that Sana (NASDAQ:SANA [https://seekingalpha.com/symbol/SANA]), currently with a valuation of about $1B, is on track to $100B in market capitalization.

The EMJ Capital president and founder wrote on X that “the science is working, the market is turning, and the upside math checks out,” and added, “this is what it looks like when a platform transitions from promise to proof.”

Jackson, who is also known for causing a rally in shares of mortgage lender Better Home & Finance in September (BETR [https://seekingalpha.com/symbol/BETR]), reasoned that Sana (NASDAQ:SANA [https://seekingalpha.com/symbol/SANA]), with a potential $10B–12B in sales and at 30% of margins, could reach $90B–$100B in enterprise value [https://x.com/ericjackson/status/1978460287259848893] assuming a 30× multiple. “That’s the math of a 100-bagger,” he added.

MORE ON SANA BIOTECHNOLOGY

* Sana Biotechnology, Inc. (SANA) Presents At Morgan Stanley 23rd Annual Global Healthcare Conference Transcript [https://seekingalpha.com/article/4820565-sana-biotechnology-inc-sana-presents-at-morgan-stanley-23rd-annual-global-healthcare]
* Sana Biotechnology, Inc. (SANA) Presents at Wells Fargo 20th Annual Healthcare Conference 2025 Transcript [https://seekingalpha.com/article/4819808-sana-biotechnology-inc-sana-presents-at-wells-fargo-20th-annual-healthcare-conference-2025]
* Sana Biotechnology, Inc. (SANA) Presents At Citi's Biopharma Back To School Conference Transcript [https://seekingalpha.com/article/4818694-sana-biotechnology-inc-sana-presents-at-citis-biopharma-back-to-school-conference-transcript]
* Sana Biotechnology drops 13% on $75M stock issuance, prices at $3.35 [https://seekingalpha.com/news/4480929-sana-biotechnology-drops-13-on-75m-stock-issuance-prices-at-335]
* Seeking Alpha’s Quant Rating on Sana Biotechnology [https://seekingalpha.com/symbol/SANA/ratings/quant-ratings]