Royal Bank of Canada Reaffirms “Sector Perform” Rating for Sangamo Therapeutics (NASDAQ:SGMO)

Sangamo Therapeutics (NASDAQ:SGMO)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $2.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 130.04% from the company’s previous close.

Several other equities analysts have also recently commented on SGMO. Jefferies Financial Group dropped their target price on shares of Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, December 31st. Wells Fargo & Company lowered their price target on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 31st. StockNews.com cut shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a report on Monday, January 27th. Finally, Truist Financial lowered their price target on shares of Sangamo Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sangamo Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $5.17.

Sangamo Therapeutics Stock Performance

SGMO stock opened at $0.87 on Tuesday. The company has a market capitalization of $181.40 million, a P/E ratio of -1.16 and a beta of 1.49. Sangamo Therapeutics has a 52-week low of $0.30 and a 52-week high of $3.18. The business has a 50-day simple moving average of $1.08 and a two-hundred day simple moving average of $1.41.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. The company had revenue of $7.55 million for the quarter, compared to analyst estimates of $11.70 million. As a group, sell-side analysts forecast that Sangamo Therapeutics will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in Sangamo Therapeutics in the 4th quarter valued at approximately $28,000. XTX Topco Ltd grew its stake in Sangamo Therapeutics by 167.8% in the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 64,981 shares in the last quarter. Geode Capital Management LLC grew its stake in Sangamo Therapeutics by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after buying an additional 272,123 shares in the last quarter. State Street Corp grew its stake in Sangamo Therapeutics by 28.0% in the 3rd quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock valued at $576,000 after buying an additional 145,400 shares in the last quarter. Finally, Golden State Equity Partners grew its stake in Sangamo Therapeutics by 2,592.3% in the 4th quarter. Golden State Equity Partners now owns 325,684 shares of the biopharmaceutical company’s stock valued at $332,000 after buying an additional 313,587 shares in the last quarter. 56.93% of the stock is currently owned by hedge funds and other institutional investors.

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.