State Street Corp Grows Holdings in Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

State Street Corp raised its position in shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) by 28.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 664,621 shares of the biopharmaceutical company’s stock after purchasing an additional 145,400 shares during the quarter. State Street Corp owned 0.32% of Sangamo Therapeutics worth $576,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SGMO. Meritage Portfolio Management lifted its stake in shares of Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 6,740 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 acquiring an additional 38,850 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Sangamo Therapeutics in the second quarter worth about $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sangamo Therapeutics during the second quarter worth about $89,000. Finally, Golden State Equity Partners raised its stake in Sangamo Therapeutics by 35.2% during the 3rd quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 69,368 shares during the period. 56.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Tuesday. Truist Financial upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Sangamo Therapeutics in a report on Thursday. Jefferies Financial Group reduced their target price on Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, StockNews.com lowered Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Sangamo Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Sangamo Therapeutics Price Performance

Shares of NASDAQ SGMO opened at $1.30 on Friday. Sangamo Therapeutics, Inc. has a 1-year low of $0.30 and a 1-year high of $3.18. The business’s 50 day moving average is $2.13 and its two-hundred day moving average is $1.23. The stock has a market capitalization of $271.24 million, a P/E ratio of -1.73 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last released 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. The firm had revenue of $49.41 million for 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 quarter in the previous year, the company posted ($0.34) EPS. As a group, equities research analysts anticipate that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

Sangamo Therapeutics 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.