Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down – Here’s What Happened

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $2.47, but opened at $2.34. Sangamo Therapeutics shares last traded at $2.53, with a volume of 1,295,990 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SGMO shares. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a report on Thursday, December 19th. StockNews.com downgraded Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays lifted their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Truist Financial raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Sangamo Therapeutics Trading Up 4.6 %

The stock has a market capitalization of $521.62 million, a P/E ratio of -3.33 and a beta of 1.15. The company has a 50-day moving average price of $2.03 and a two-hundred day moving average price of $1.17.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $49.41 million during the quarter, compared to the consensus estimate 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) earnings per share. Research analysts forecast that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its position 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 worth $1,479,000 after purchasing an additional 1,528,600 shares in the last quarter. Marshall Wace LLP boosted its holdings in 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 acquiring an additional 207,476 shares in the last quarter. XTX Topco Ltd grew its stake in Sangamo Therapeutics by 167.8% in the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 64,981 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 valued at $94,000 after acquiring an additional 38,850 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Sangamo Therapeutics during the second quarter worth approximately $67,000. 56.93% of the stock is currently owned by institutional investors and hedge funds.

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.