Sangamo Therapeutics (NASDAQ:SGMO) Stock Crosses Above 200 Day Moving Average – Here’s Why

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.71 and traded as high as $2.00. Sangamo Therapeutics shares last traded at $1.70, with a volume of 11,244,344 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SGMO shares. StockNews.com started coverage on shares of Sangamo Therapeutics in a report on Sunday, July 28th. They set a “sell” rating on the stock. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Sangamo Therapeutics in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.67.

Sangamo Therapeutics Trading Down 14.6 %

The stock has a market cap of $353.98 million, a P/E ratio of -1.23 and a beta of 1.23. The business’s fifty day simple moving average is $0.97 and its 200 day simple moving average is $0.71.

Sangamo Therapeutics (NASDAQ:SGMO) last released its 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). Sangamo Therapeutics had a negative net margin of 2,033.69% and a negative return on equity of 273.25%. The business had revenue of $0.36 million for the quarter, compared to analyst estimates of $11.40 million. On average, analysts predict that Sangamo Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SGMO. Mirae Asset Global Investments Co. Ltd. acquired a new position in Sangamo Therapeutics during the 1st quarter valued at about $331,000. State Board of Administration of Florida Retirement System raised its position in shares of Sangamo Therapeutics by 61.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 23,650 shares during the period. Acadian Asset Management LLC raised its position in shares of Sangamo Therapeutics by 4.0% in the 1st quarter. Acadian Asset Management LLC now owns 4,943,260 shares of the biopharmaceutical company’s stock valued at $3,311,000 after acquiring an additional 192,385 shares during the period. Renaissance Technologies LLC raised its position in shares of Sangamo Therapeutics by 58.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after acquiring an additional 1,528,600 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Sangamo Therapeutics by 56.3% in 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. 56.93% of the stock is currently owned by institutional investors and hedge funds.

Sangamo Therapeutics Company 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.