HC Wainwright Reiterates “Buy” Rating for Sangamo Therapeutics (NASDAQ:SGMO)

Sangamo Therapeutics (NASDAQ:SGMO)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $10.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 304.86% from the company’s current price.

Other research analysts also recently issued reports about the company. Truist Financial upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Friday, December 13th. Barclays raised their price target on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, December 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Sangamo Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Sangamo Therapeutics Stock Performance

NASDAQ:SGMO opened at $2.47 on Thursday. The company’s 50-day simple moving average is $1.94 and its 200-day simple moving average is $1.12. Sangamo Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $3.18. The stock has a market capitalization of $515.36 million, a P/E ratio of -3.29 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. The company had revenue of $49.41 million during the quarter, compared to the consensus estimate of $26.55 million. During the same period last year, the firm earned ($0.34) earnings per share. On average, research analysts forecast that Sangamo Therapeutics will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in shares of Sangamo Therapeutics by 58.8% in the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after purchasing an additional 1,528,600 shares during the period. Geode Capital Management LLC boosted its position in Sangamo Therapeutics by 14.6% in the third 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sangamo Therapeutics in the 2nd quarter worth approximately $89,000. Vontobel Holding Ltd. raised its position in Sangamo Therapeutics by 412.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after buying an additional 241,440 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Sangamo Therapeutics by 56.3% during the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 207,476 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.