HC Wainwright Issues Pessimistic Forecast for SGMO Earnings

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) – HC Wainwright cut their FY2024 earnings per share estimates for Sangamo Therapeutics in a report issued on Monday, January 27th. HC Wainwright analyst P. Trucchio now expects that the biopharmaceutical company will post earnings of ($0.49) per share for the year, down from their prior forecast of ($0.43). 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 ($0.11) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at $0.01 EPS, FY2025 earnings at ($0.08) EPS, FY2026 earnings at ($0.17) EPS, FY2027 earnings at ($0.02) EPS, FY2028 earnings at $0.19 EPS and FY2029 earnings at $0.42 EPS.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Truist Financial dropped their target price on Sangamo Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group decreased their price target on Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, December 31st. Barclays upped their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company decreased their target price on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 31st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

Sangamo Therapeutics Stock Performance

Shares of SGMO opened at $1.13 on Wednesday. The stock has a market capitalization of $235.77 million, a price-to-earnings ratio of -1.51 and a beta of 1.29. Sangamo Therapeutics has a 12 month low of $0.30 and a 12 month high of $3.18. The firm has a fifty day simple moving average of $1.76 and a 200 day simple moving average of $1.33.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly 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. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The firm had revenue of $49.41 million during the quarter, compared to the consensus estimate of $26.55 million. During the same quarter in the prior year, the firm posted ($0.34) EPS.

Institutional Investors Weigh In On Sangamo Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Sageworth Trust Co bought a new position in Sangamo Therapeutics during the fourth quarter worth $61,000. Golden State Equity Partners lifted its stake in shares of Sangamo Therapeutics by 2,592.3% during the 4th quarter. Golden State Equity Partners now owns 325,684 shares of the biopharmaceutical company’s stock worth $332,000 after buying an additional 313,587 shares during the last quarter. Shelton Wealth Management LLC bought a new stake in shares of Sangamo Therapeutics during the 4th quarter worth about $29,000. Virtu Financial LLC acquired a new position in shares of Sangamo Therapeutics in the third quarter valued at approximately $150,000. Finally, Geode Capital Management LLC increased its position in Sangamo Therapeutics by 14.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock worth $1,853,000 after buying an additional 272,123 shares during the period. 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.