Sangamo Therapeutics (NASDAQ:SGMO) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

A number of other equities analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a report on Thursday, November 14th. 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.

Sangamo Therapeutics Price Performance

Shares of SGMO opened at $2.01 on Friday. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The firm has a market cap of $419.39 million, a PE ratio of -2.68 and a beta of 1.15. The stock’s fifty day moving average price is $1.69 and its two-hundred day moving average price is $1.03.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) 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 return on equity of 264.16% and a negative net margin of 257.87%. During the same period in the previous year, the company posted ($0.34) EPS. Sell-side analysts anticipate that Sangamo Therapeutics will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SGMO. Renaissance Technologies LLC boosted its stake in shares of Sangamo Therapeutics by 58.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock worth $1,479,000 after buying an additional 1,528,600 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Sangamo Therapeutics by 56.3% in the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 207,476 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Sangamo Therapeutics in the second quarter worth about $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sangamo Therapeutics in the second quarter worth about $89,000. Finally, Vontobel Holding Ltd. grew its position in Sangamo Therapeutics by 412.3% in the third quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after acquiring an additional 241,440 shares in the last quarter. 56.93% of the stock is currently owned by hedge funds and other 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.