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

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

SGMO has been the subject of several other reports. Truist Financial raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Friday. Barclays boosted their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Sangamo Therapeutics Stock Performance

Shares of SGMO opened at $2.64 on Monday. The company’s 50-day simple moving average is $1.84 and its 200-day simple moving average is $1.09. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The stock has a market capitalization of $550.84 million, a PE ratio of -3.52 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $49.41 million for the quarter, compared to analyst estimates of $26.55 million. During the same period in the prior year, the business earned ($0.34) EPS. On average, sell-side analysts predict that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in Sangamo Therapeutics by 58.8% in the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after purchasing an additional 1,528,600 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $1,853,000 after buying an additional 272,123 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sangamo Therapeutics in the 2nd quarter valued at $89,000. Vontobel Holding Ltd. grew its position in shares of Sangamo Therapeutics by 412.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock valued at $259,000 after buying an additional 241,440 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Sangamo Therapeutics by 56.3% during the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 207,476 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.