Sangamo Therapeutics (NASDAQ:SGMO) Raised to “Buy” at Truist Financial

Sangamo Therapeutics (NASDAQ:SGMO) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $7.00 price objective on the biopharmaceutical company’s stock. Truist Financial’s price target suggests a potential upside of 241.46% from the stock’s previous close.

A number of other research firms have also weighed in on SGMO. Barclays upped their target price on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a research note on Tuesday, December 10th. Finally, StockNews.com cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Sangamo Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Sangamo Therapeutics Stock Performance

Shares of Sangamo Therapeutics stock opened at $2.05 on Friday. The stock has a market capitalization of $427.73 million, a PE ratio of -2.73 and a beta of 1.15. Sangamo Therapeutics has a 52 week low of $0.30 and a 52 week high of $3.18. The stock has a 50 day moving average price of $1.80 and a two-hundred day moving average price of $1.07.

Sangamo Therapeutics (NASDAQ:SGMO) last posted 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. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. The business had revenue of $49.41 million during the quarter, compared to the consensus estimate of $26.55 million. During the same quarter last year, the firm posted ($0.34) EPS. Research analysts forecast that Sangamo Therapeutics will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several hedge funds have recently modified their holdings of the company. Meritage Portfolio Management raised its stake in shares of Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 6,740 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Sangamo Therapeutics by 55.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 38,850 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sangamo Therapeutics by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock worth $956,000 after buying an additional 57,125 shares during the last quarter. XTX Topco Ltd raised its position in Sangamo Therapeutics by 167.8% in the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 64,981 shares during the period. Finally, Golden State Equity Partners boosted its stake in Sangamo Therapeutics by 35.2% in the third quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 69,368 shares during the last quarter. Institutional investors own 56.93% of the company’s stock.

Sangamo Therapeutics Company Profile

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.