Truist Financial Has Lowered Expectations for Sangamo Therapeutics (NASDAQ:SGMO) Stock Price

Sangamo Therapeutics (NASDAQ:SGMO) had its target price reduced by equities research analysts at Truist Financial from $7.00 to $5.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective indicates a potential upside of 331.03% from the stock’s previous close.

A number of other research firms have also recently weighed in on SGMO. Wells Fargo & Company cut their price target on Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 31st. Jefferies Financial Group reduced their price target on Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, December 31st. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a report on Thursday, January 2nd. StockNews.com downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, Barclays raised their target price on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

Sangamo Therapeutics Price Performance

NASDAQ:SGMO opened at $1.16 on Thursday. The firm has a market capitalization of $242.03 million, a P/E ratio of -1.55 and a beta of 1.29. The business has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $1.31. 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 (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. The company had revenue of $49.41 million during the quarter, compared to the consensus estimate of $26.55 million. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. During the same quarter in the previous year, the company posted ($0.34) earnings per share. Research analysts anticipate that Sangamo Therapeutics will post -0.47 EPS for the current fiscal year.

Institutional Trading of Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SGMO. Golden State Equity Partners grew its position in Sangamo Therapeutics by 2,592.3% in the fourth 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 acquired a new stake in shares of Sangamo Therapeutics during the fourth quarter worth $29,000. Virtu Financial LLC acquired a new stake in shares of Sangamo Therapeutics during the third quarter worth $150,000. Geode Capital Management LLC boosted its position in shares of Sangamo Therapeutics by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after purchasing an additional 272,123 shares during the period. Finally, XTX Topco Ltd increased its stake in Sangamo Therapeutics by 167.8% in the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 64,981 shares in the last quarter. 56.93% of the stock is currently owned by institutional investors.

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.