FY2024 Earnings Forecast for SGMO Issued By HC Wainwright

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) – Stock analysts at HC Wainwright cut their FY2024 earnings per share estimates for Sangamo Therapeutics in a report released on Tuesday, November 5th. HC Wainwright analyst P. Trucchio now forecasts that the biopharmaceutical company will post earnings of ($0.40) per share for the year, down from their prior estimate of ($0.23). HC Wainwright currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Sangamo Therapeutics’ current full-year earnings is ($0.47) per share. HC Wainwright also issued estimates for Sangamo Therapeutics’ Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.07 EPS, FY2025 earnings at ($0.06) EPS, FY2026 earnings at $0.10 EPS, FY2027 earnings at $0.29 EPS and FY2028 earnings at $0.63 EPS.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The business had revenue of $0.36 million for the quarter, compared to analysts’ expectations of $11.40 million. Sangamo Therapeutics had a negative return on equity of 273.25% and a negative net margin of 2,033.69%.

Separately, StockNews.com started coverage on Sangamo Therapeutics in a research note on Sunday, July 28th. They issued a “sell” rating on the stock.

Sangamo Therapeutics Stock Up 13.8 %

Shares of SGMO stock opened at $2.81 on Thursday. The firm has a 50 day moving average of $1.12 and a two-hundred day moving average of $0.78. The stock has a market capitalization of $585.10 million, a PE ratio of -2.04 and a beta of 1.10. Sangamo Therapeutics has a 52 week low of $0.29 and a 52 week high of $2.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in shares of Sangamo Therapeutics by 61.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 23,650 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Sangamo Therapeutics during the second quarter worth approximately $67,000. Meritage Portfolio Management boosted its holdings in Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 6,740 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sangamo Therapeutics in the second quarter valued at approximately $89,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Sangamo Therapeutics by 55.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 38,850 shares during 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.