Sangamo Therapeutics (NASDAQ:SGMO) Stock Price Passes Above 200-Day Moving Average of $0.64

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.64 and traded as high as $0.88. Sangamo Therapeutics shares last traded at $0.84, with a volume of 1,719,761 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SGMO shares. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, August 22nd. StockNews.com assumed coverage on shares of Sangamo Therapeutics in a research report on Sunday, July 28th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.67.

Sangamo Therapeutics Stock Down 1.3 %

The stock has a 50-day simple moving average of $0.82 and a two-hundred day simple moving average of $0.64. The firm has a market cap of $175.84 million, a PE ratio of -0.45 and a beta of 1.23.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The firm had revenue of $0.36 million for the quarter, compared to analysts’ expectations of $11.40 million. Sangamo Therapeutics had a negative net margin of 2,033.69% and a negative return on equity of 273.25%. Research analysts expect that Sangamo Therapeutics, Inc. will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in shares of Sangamo Therapeutics during the second quarter valued at about $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sangamo Therapeutics during the 2nd quarter valued at about $89,000. Marshall Wace LLP grew its position in Sangamo Therapeutics by 56.3% during the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 207,476 shares during the last quarter. Renaissance Technologies LLC increased its stake in Sangamo Therapeutics by 58.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock worth $1,479,000 after purchasing an additional 1,528,600 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Sangamo Therapeutics by 4.0% in the first quarter. Acadian Asset Management LLC now owns 4,943,260 shares of the biopharmaceutical company’s stock valued at $3,311,000 after purchasing an additional 192,385 shares during the last quarter. Hedge funds and other 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.