Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down – What’s Next?

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) gapped down before the market opened on Monday . The stock had previously closed at $2.47, but opened at $2.34. Sangamo Therapeutics shares last traded at $2.53, with a volume of 1,295,990 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SGMO. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, December 19th. StockNews.com lowered Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays raised their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Truist Financial upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

Sangamo Therapeutics Trading Up 4.6 %

The firm has a market capitalization of $521.62 million, a P/E ratio of -3.33 and a beta of 1.15. The stock’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $1.17.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in shares of Sangamo Therapeutics in the 2nd quarter worth about $67,000. Meritage Portfolio Management boosted its stake in Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 6,740 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sangamo Therapeutics during the 2nd quarter valued at approximately $89,000. XTX Topco Ltd increased its stake in shares of Sangamo Therapeutics by 167.8% during the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 64,981 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sangamo Therapeutics by 55.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 38,850 shares during the period. Institutional investors own 56.93% of the company’s stock.

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.