Geode Capital Management LLC Purchases 272,123 Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

Geode Capital Management LLC grew its holdings in Sangamo Therapeutics, Inc. (NASDAQ:SGMO) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,138,309 shares of the biopharmaceutical company’s stock after acquiring an additional 272,123 shares during the quarter. Geode Capital Management LLC’s holdings in Sangamo Therapeutics were worth $1,853,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SGMO. Cubist Systematic Strategies LLC bought a new stake in Sangamo Therapeutics in the 2nd quarter valued at about $67,000. Meritage Portfolio Management raised its position in shares of Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 6,740 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sangamo Therapeutics in the second quarter valued at approximately $89,000. XTX Topco Ltd grew its position in Sangamo Therapeutics by 167.8% during the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 64,981 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Sangamo Therapeutics by 55.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 38,850 shares in the last quarter. 56.93% of the stock is currently owned by institutional investors and hedge funds.

Sangamo Therapeutics Stock Performance

NASDAQ SGMO opened at $1.22 on Thursday. The firm’s fifty day moving average price is $2.09 and its two-hundred day moving average price is $1.25. The stock has a market cap of $253.51 million, a PE ratio of -1.62 and a beta of 1.29. Sangamo Therapeutics, Inc. has a fifty-two week low of $0.30 and a fifty-two week high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $49.41 million for the quarter, compared to analyst estimates of $26.55 million. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. During the same quarter in the previous year, the company posted ($0.34) EPS. As a group, sell-side analysts predict that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SGMO has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research note on Thursday, January 2nd. Wells Fargo & Company cut their price target on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Tuesday, December 31st. Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Friday, December 13th. StockNews.com downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Finally, Barclays raised their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Sangamo Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

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.