Sangamo Therapeutics (NASDAQ:SGMO) Shares Down 6.3% – Here’s Why

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s stock price dropped 6.3% during trading on Monday . The company traded as low as $2.34 and last traded at $2.40. Approximately 1,574,041 shares traded hands during trading, a decline of 77% from the average daily volume of 6,876,316 shares. The stock had previously closed at $2.56.

Analyst Ratings Changes

SGMO has been the topic of a number of research reports. Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Friday, December 13th. Barclays increased 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. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, December 19th. Finally, StockNews.com downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Sangamo Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Sangamo Therapeutics Stock Performance

The company has a 50-day moving average of $2.13 and a 200 day moving average of $1.21. The firm has a market cap of $498.67 million, a P/E ratio of -3.19 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. The firm had revenue of $49.41 million during the quarter, compared to the consensus estimate 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 firm posted ($0.34) EPS. Sell-side analysts anticipate that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current fiscal year.

Institutional Trading of Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SGMO. Meritage Portfolio Management lifted its stake in shares of Sangamo Therapeutics by 8.6% during 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 period. Wealth Enhancement Advisory Services LLC lifted its position in Sangamo Therapeutics by 55.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 38,850 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Sangamo Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after purchasing an additional 57,125 shares during the last quarter. XTX Topco Ltd grew its position 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 buying an additional 64,981 shares during the period. Finally, Golden State Equity Partners raised its stake in shares of Sangamo Therapeutics by 35.2% during the third quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 69,368 shares during 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.