Sangamo Therapeutics (NASDAQ:SGMO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a sell rating to a hold rating in a report released on Thursday morning.

Several other brokerages have also commented on SGMO. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research note on Thursday. Barclays raised their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday.

Sangamo Therapeutics Stock Performance

Sangamo Therapeutics stock opened at $2.05 on Thursday. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The firm has a 50 day moving average price of $1.33 and a 200 day moving average price of $0.87. The company has a market cap of $427.73 million, a price-to-earnings ratio of -2.73 and a beta of 1.10.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $49.41 million for 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 quarter last year, the business earned ($0.34) EPS. Sell-side analysts predict that Sangamo Therapeutics will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Sangamo Therapeutics by 58.8% during the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after buying an additional 1,528,600 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sangamo Therapeutics during the first quarter valued at approximately $331,000. Geode Capital Management LLC grew its holdings in Sangamo Therapeutics by 14.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after purchasing an additional 272,123 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sangamo Therapeutics during the 2nd quarter worth $89,000. Finally, Vontobel Holding Ltd. lifted its holdings in Sangamo Therapeutics by 412.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after buying an additional 241,440 shares in the last quarter. Institutional investors and hedge funds 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.