StockNews.com Upgrades Sangamo Therapeutics (NASDAQ:SGMO) to “Buy”

StockNews.com upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a hold rating to a buy rating in a research note published on Thursday.

Other equities analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Sangamo Therapeutics in a report on Thursday, November 14th. Barclays upped their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th.

Sangamo Therapeutics Stock Down 1.7 %

NASDAQ:SGMO opened at $2.26 on Thursday. The stock has a market capitalization of $471.55 million, a PE ratio of -3.01 and a beta of 1.10. Sangamo Therapeutics has a 52 week low of $0.30 and a 52 week high of $3.18. The stock’s 50-day moving average price is $1.57 and its 200-day moving average price is $0.97.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The business had revenue of $49.41 million during the quarter, compared to analysts’ expectations of $26.55 million. During the same period in the previous year, the business earned ($0.34) earnings per share. Sell-side analysts expect that Sangamo Therapeutics will post -0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sangamo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Sangamo Therapeutics in the third quarter worth about $150,000. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 272,123 shares during the last quarter. XTX Topco Ltd lifted 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. State Street Corp boosted its holdings in shares of Sangamo Therapeutics by 28.0% during the 3rd quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock worth $576,000 after purchasing an additional 145,400 shares during the last quarter. Finally, FMR LLC grew its position in shares of Sangamo Therapeutics by 16.5% in the third quarter. FMR LLC now owns 544,003 shares of the biopharmaceutical company’s stock valued at $471,000 after purchasing an additional 77,032 shares in the last quarter. Institutional investors and hedge funds own 56.93% of the company’s stock.

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.