Sangamo Therapeutics (NASDAQ:SGMO) Downgraded to Hold Rating by StockNews.com

Sangamo Therapeutics (NASDAQ:SGMO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Other research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a 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 research note on Thursday, December 19th. Finally, Truist Financial raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sangamo Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Sangamo Therapeutics Stock Performance

Shares of NASDAQ:SGMO opened at $2.39 on Tuesday. Sangamo Therapeutics has a 52-week low of $0.30 and a 52-week high of $3.18. The business’s 50 day simple moving average is $1.97 and its two-hundred day simple moving average is $1.14. The firm has a market cap of $498.67 million, a P/E ratio of -3.19 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $49.41 million for the quarter, compared to analysts’ expectations 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 business earned ($0.34) EPS. On average, equities analysts forecast that Sangamo Therapeutics will post -0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several hedge funds have recently modified their holdings of SGMO. Cubist Systematic Strategies LLC purchased a new stake in shares of Sangamo Therapeutics during the 2nd quarter valued at $67,000. Meritage Portfolio Management grew its position in Sangamo Therapeutics by 8.6% during 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 period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sangamo Therapeutics during the second quarter worth about $89,000. XTX Topco Ltd raised its position in Sangamo Therapeutics by 167.8% in the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 64,981 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings 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 worth $94,000 after purchasing an additional 38,850 shares during the period. Institutional investors own 56.93% of the company’s stock.

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.