Sangamo Therapeutics (NASDAQ:SGMO) Upgraded by Truist Financial to Buy Rating

Truist Financial upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a hold rating to a buy rating in a research note published on Friday morning, MarketBeat.com reports. They currently have $7.00 price objective on the biopharmaceutical company’s stock.

SGMO has been the topic of several other research reports. StockNews.com downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 6th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a research note on Tuesday, December 10th. Finally, Barclays boosted their target price on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.00.

Sangamo Therapeutics Price Performance

NASDAQ SGMO opened at $2.05 on Friday. The stock’s fifty day moving average price is $1.80 and its 200 day moving average price is $1.07. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The company has a market cap of $427.73 million, a price-to-earnings ratio of -2.73 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $26.55 million. During the same quarter in the previous year, the business earned ($0.34) EPS. Research analysts expect that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SGMO. Renaissance Technologies LLC lifted its stake in shares of Sangamo Therapeutics by 58.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after purchasing an additional 1,528,600 shares during the period. Marshall Wace LLP increased its holdings in Sangamo Therapeutics by 56.3% in the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 207,476 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Sangamo Therapeutics in the second quarter worth about $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sangamo Therapeutics during the 2nd quarter worth about $89,000. Finally, Vontobel Holding Ltd. grew its position in shares of Sangamo Therapeutics by 412.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock valued at $259,000 after acquiring an additional 241,440 shares during the period. 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.