Sangamo Therapeutics (NASDAQ:SGMO) Downgraded by StockNews.com to “Hold”

Sangamo Therapeutics (NASDAQ:SGMO) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other brokerages have also commented on SGMO. Barclays raised their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, November 14th.

Sangamo Therapeutics Stock Up 1.5 %

Shares of SGMO stock opened at $1.97 on Friday. The company has a market cap of $411.04 million, a P/E ratio of -2.63 and a beta of 1.15. The business has a 50 day moving average of $1.64 and a two-hundred day moving average of $1.00. Sangamo Therapeutics has a 52 week low of $0.30 and a 52 week high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The business had revenue of $49.41 million during the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. Analysts expect that Sangamo Therapeutics will post -0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of Sangamo Therapeutics during the 2nd quarter valued at about $67,000. Meritage Portfolio Management lifted its stake in Sangamo Therapeutics by 8.6% during 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sangamo Therapeutics during the second quarter worth approximately $89,000. XTX Topco Ltd grew its position in Sangamo Therapeutics by 167.8% in the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 64,981 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 buying an additional 38,850 shares in the last quarter. 56.93% of the stock is owned by institutional investors and hedge funds.

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.