Sangamo Therapeutics (NASDAQ:SGMO) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a hold rating to a buy rating in a report released on Monday morning.

Several other equities analysts also recently weighed in on SGMO. Barclays raised their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a report on Tuesday, December 10th. Finally, Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Sangamo Therapeutics Trading Up 28.8 %

Shares of Sangamo Therapeutics stock opened at $2.64 on Monday. The firm’s 50 day simple moving average is $1.84 and its two-hundred day simple moving average is $1.09. The firm has a market capitalization of $550.84 million, a price-to-earnings ratio of -3.52 and a beta of 1.15. Sangamo Therapeutics has a 12-month low of $0.30 and a 12-month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. The company 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 period last year, the firm earned ($0.34) EPS. On average, sell-side analysts predict that Sangamo Therapeutics will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Sangamo Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Sangamo Therapeutics during the 2nd quarter worth about $67,000. Meritage Portfolio Management lifted its position in Sangamo Therapeutics by 8.6% in the third 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sangamo Therapeutics during the second quarter worth about $89,000. XTX Topco Ltd increased its position in shares of Sangamo Therapeutics by 167.8% during the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 64,981 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Sangamo Therapeutics by 55.4% in the 3rd 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 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.