What is HC Wainwright’s Forecast for SGMO FY2024 Earnings?

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) – Stock analysts at HC Wainwright reduced their FY2024 earnings per share estimates for shares of Sangamo Therapeutics in a report issued on Tuesday, November 5th. HC Wainwright analyst P. Trucchio now anticipates that the biopharmaceutical company will post earnings of ($0.40) per share for the year, down from their previous estimate of ($0.23). HC Wainwright currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Sangamo Therapeutics’ current full-year earnings is ($0.47) per share. HC Wainwright also issued estimates for Sangamo Therapeutics’ Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.07 EPS, FY2025 earnings at ($0.06) EPS, FY2026 earnings at $0.10 EPS, FY2027 earnings at $0.29 EPS and FY2028 earnings at $0.63 EPS.

Sangamo Therapeutics (NASDAQ:SGMO) last issued 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 during 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%.

Separately, StockNews.com started coverage on shares of Sangamo Therapeutics in a research report on Sunday, July 28th. They set a “sell” rating on the stock.

Sangamo Therapeutics Price Performance

Shares of Sangamo Therapeutics stock opened at $2.81 on Thursday. The firm’s fifty day simple moving average is $1.12 and its 200-day simple moving average is $0.78. Sangamo Therapeutics has a 12 month low of $0.29 and a 12 month high of $2.97. The stock has a market capitalization of $585.10 million, a price-to-earnings ratio of -2.04 and a beta of 1.10.

Institutional Investors Weigh In On Sangamo Therapeutics

Several large investors have recently modified their holdings of SGMO. State Board of Administration of Florida Retirement System increased its stake in shares of Sangamo Therapeutics by 61.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 23,650 shares during the period. Meritage Portfolio Management boosted its holdings in Sangamo Therapeutics by 8.6% in the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 6,740 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Sangamo Therapeutics by 55.4% during 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. Cubist Systematic Strategies LLC acquired a new position in Sangamo Therapeutics during the 2nd quarter worth approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sangamo Therapeutics in the 2nd quarter valued at approximately $89,000. 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.