PNC Financial Services Group Inc. Increases Stake in Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

PNC Financial Services Group Inc. lifted its stake in Sangamo Therapeutics, Inc. (NASDAQ:SGMO) by 2,319.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,078 shares of the biopharmaceutical company’s stock after buying an additional 25,000 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sangamo Therapeutics were worth $27,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings 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 acquiring an additional 272,123 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Sangamo Therapeutics by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,139,252 shares of the biopharmaceutical company’s stock worth $1,162,000 after purchasing an additional 35,926 shares during the last quarter. State Street Corp lifted its position in shares of Sangamo Therapeutics by 28.0% in the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock worth $576,000 after buying an additional 145,400 shares in the last quarter. FMR LLC boosted its stake in Sangamo Therapeutics by 16.5% during the third quarter. FMR LLC now owns 544,003 shares of the biopharmaceutical company’s stock valued at $471,000 after buying an additional 77,032 shares during the last quarter. Finally, Golden State Equity Partners grew its holdings in Sangamo Therapeutics by 2,592.3% during 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. Institutional investors own 56.93% of the company’s stock.

Sangamo Therapeutics Trading Up 1.5 %

SGMO stock opened at $0.86 on Friday. The stock has a market cap of $192.64 million, a PE ratio of -1.14 and a beta of 1.49. Sangamo Therapeutics, Inc. has a 12 month low of $0.30 and a 12 month high of $3.18. The company has a 50-day moving average price of $1.05 and a 200 day moving average price of $1.40.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $7.55 million for the quarter, compared to analysts’ expectations of $11.70 million. Sell-side analysts forecast that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SGMO. Wells Fargo & Company decreased their price objective on Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 31st. Truist Financial lowered their price objective on shares of Sangamo Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a report on Monday, January 27th. Jefferies Financial Group decreased 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $2.00 price objective on shares of Sangamo Therapeutics in a research note on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.17.

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.