Wasatch Advisors LP Buys 7,734,400 Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

Wasatch Advisors LP increased its stake in shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) by 62.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,132,324 shares of the biopharmaceutical company’s stock after purchasing an additional 7,734,400 shares during the quarter. Wasatch Advisors LP owned about 11.25% of Sangamo Therapeutics worth $13,493,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Golden State Equity Partners boosted its holdings in Sangamo Therapeutics by 21.0% in the fourth quarter. Golden State Equity Partners now owns 201,225 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 34,960 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Sangamo Therapeutics by 72.4% in the 4th quarter. Mackenzie Financial Corp now owns 73,799 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 31,003 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Sangamo Therapeutics by 14.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,033,322 shares of the biopharmaceutical company’s stock worth $561,000 after buying an additional 129,811 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Sangamo Therapeutics by 103.9% during the fourth quarter. SG Americas Securities LLC now owns 180,544 shares of the biopharmaceutical company’s stock worth $98,000 after buying an additional 92,002 shares during the last quarter. 56.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on SGMO. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $2.00 target price on shares of Sangamo Therapeutics in a report on Thursday, March 14th. StockNews.com initiated coverage on Sangamo Therapeutics in a research note on Wednesday, June 26th. They set a “sell” rating for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Sangamo Therapeutics in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.67.

Sangamo Therapeutics Stock Performance

SGMO opened at $0.32 on Wednesday. The company has a fifty day simple moving average of $0.53 and a 200 day simple moving average of $0.62. Sangamo Therapeutics, Inc. has a 12 month low of $0.29 and a 12 month high of $1.67.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). Sangamo Therapeutics had a negative return on equity of 182.55% and a negative net margin of 1,749.06%. The business had revenue of $0.48 million during the quarter, compared to the consensus estimate of $8.51 million. During the same quarter last year, the company earned $0.12 earnings per share. On average, analysts forecast that Sangamo Therapeutics, Inc. will post -0.55 EPS for the current fiscal year.

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.