StockNews.com Initiates Coverage on Sangamo Therapeutics (NASDAQ:SGMO)

StockNews.com began coverage on shares of Sangamo Therapeutics (NASDAQ:SGMO) in a report issued on Thursday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on SGMO. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Sangamo Therapeutics in a report on Wednesday, May 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $2.00 target price on shares of Sangamo Therapeutics in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.67.

Sangamo Therapeutics Stock Performance

SGMO stock opened at $0.32 on Thursday. The stock’s 50 day simple moving average is $0.52 and its 200 day simple moving average is $0.61. Sangamo Therapeutics has a 12-month low of $0.29 and a 12-month high of $1.67. The stock has a market capitalization of $66.82 million, a PE ratio of -0.17 and a beta of 1.24.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). Sangamo Therapeutics had a negative net margin of 1,749.06% and a negative return on equity of 182.55%. The business had revenue of $0.48 million for the quarter, compared to the consensus estimate of $8.51 million. During the same period in the previous year, the company earned $0.12 earnings per share. On average, research analysts predict that Sangamo Therapeutics will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its position in shares of Sangamo Therapeutics by 61.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 23,650 shares in the last quarter. Mackenzie Financial Corp raised its stake in Sangamo Therapeutics by 72.4% during the 4th quarter. Mackenzie Financial Corp now owns 73,799 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 31,003 shares during the period. Golden State Equity Partners lifted its holdings in Sangamo Therapeutics by 21.0% during the fourth quarter. Golden State Equity Partners now owns 201,225 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 34,960 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Sangamo Therapeutics by 103.9% in the fourth quarter. SG Americas Securities LLC now owns 180,544 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 92,002 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Sangamo Therapeutics by 14.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,033,322 shares of the biopharmaceutical company’s stock worth $561,000 after purchasing an additional 129,811 shares in the last quarter. 56.93% of the stock is currently owned by institutional investors.

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.