Sangamo Therapeutics (NASDAQ:SGMO) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Sangamo Therapeutics (NASDAQ:SGMO) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other brokerages have also weighed in on SGMO. Barclays boosted their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a report on Thursday, December 19th. Finally, Truist Financial raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Sangamo Therapeutics Trading Up 4.6 %

SGMO stock opened at $2.50 on Tuesday. The firm has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $1.17. The company has a market capitalization of $521.62 million, a P/E ratio of -3.33 and a beta of 1.15. Sangamo Therapeutics has a twelve month low of $0.30 and a twelve month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. The company had revenue of $49.41 million during the quarter, compared to analyst estimates of $26.55 million. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. During the same period last year, the business earned ($0.34) EPS. On average, research analysts predict that Sangamo Therapeutics will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Sangamo Therapeutics in the 2nd quarter worth approximately $67,000. Meritage Portfolio Management increased its position in Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 6,740 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sangamo Therapeutics in the second quarter valued at $89,000. XTX Topco Ltd boosted its holdings in shares of Sangamo Therapeutics by 167.8% during the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 64,981 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Sangamo Therapeutics by 55.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 38,850 shares during the last quarter. 56.93% of the stock is currently owned by institutional investors and hedge funds.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc, a clinical-stage genomic medicine company, focuses on translating science into medicines that transform the lives of patients and families afflicted with serious diseases in the United States. The company's clinical-stage product candidates are ST-920, a gene therapy product candidate, which is in Phase 1/2 clinical study for the treatment of Fabry disease; TX200, a chimeric antigen receptor engineered regulatory T cell (CAR-Treg) therapy product candidate that is in Phase 1/2 clinical study for the prevention of immune-mediated rejection in HLA-A2 mismatched kidney transplantation; SB-525, a gene therapy product candidate, which is in Phase 3 clinical trial for the treatment of moderately severe to severe hemophilia A; BIVV003, a zinc finger nuclease gene-edited cell therapy product candidate that is in Phase 1/2 PRECIZN-1 clinical study for the treatment of sickle cell disease.