Sangamo Therapeutics (NASDAQ:SGMO) Upgraded at 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.

A number of other equities research analysts have also recently commented on the company. Truist Financial raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Friday, December 13th. Barclays raised their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Sangamo Therapeutics Stock Performance

Shares of SGMO stock opened at $2.35 on Monday. The company has a market cap of $490.32 million, a P/E ratio of -3.13 and a beta of 1.15. The stock has a 50 day simple moving average of $1.91 and a two-hundred day simple moving average of $1.11. Sangamo Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $3.18.

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. On average, research analysts predict that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SGMO. Renaissance Technologies LLC boosted its position in shares of Sangamo Therapeutics by 58.8% during the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after buying an additional 1,528,600 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Sangamo Therapeutics by 56.3% during the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 207,476 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Sangamo Therapeutics during the second quarter valued at approximately $67,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sangamo Therapeutics during the second quarter worth $89,000. Finally, Vontobel Holding Ltd. lifted its holdings in Sangamo Therapeutics by 412.3% during the third quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after acquiring an additional 241,440 shares during the period. Hedge funds and other institutional investors 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.