Stock Traders Purchase High Volume of Sangamo Therapeutics Call Options (NASDAQ:SGMO)

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) was the recipient of some unusual options trading on Tuesday. Stock traders purchased 6,620 call options on the stock. This is an increase of approximately 173% compared to the typical daily volume of 2,429 call options.

Analysts Set New Price Targets

SGMO has been the topic of several recent research reports. StockNews.com initiated coverage on Sangamo Therapeutics in a research note on Sunday, July 28th. They issued a “sell” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Sangamo Therapeutics in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Sangamo Therapeutics currently has a consensus rating of “Hold” and an average target price of $2.67.

Sangamo Therapeutics Price Performance

Shares of NASDAQ SGMO opened at $1.21 on Wednesday. The stock has a market capitalization of $251.95 million, a price-to-earnings ratio of -0.88 and a beta of 1.23. The business has a 50-day moving average of $0.86 and a 200-day moving average of $0.66. Sangamo Therapeutics has a fifty-two week low of $0.29 and a fifty-two week high of $1.48.

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 the consensus estimate of ($0.16) by ($0.01). The company had revenue of $0.36 million during the quarter, compared to the consensus estimate of $11.40 million. Sangamo Therapeutics had a negative net margin of 2,033.69% and a negative return on equity of 273.25%. On average, sell-side analysts expect that Sangamo Therapeutics will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several hedge funds have recently modified their holdings of SGMO. Wasatch Advisors LP grew its holdings in shares of Sangamo Therapeutics by 62.4% in the 1st quarter. Wasatch Advisors LP now owns 20,132,324 shares of the biopharmaceutical company’s stock valued at $13,493,000 after acquiring an additional 7,734,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Sangamo Therapeutics during the first quarter worth about $331,000. State Board of Administration of Florida Retirement System grew its holdings in 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 purchasing an additional 23,650 shares during the period. Acadian Asset Management LLC grew its holdings in Sangamo Therapeutics by 4.0% during the first quarter. Acadian Asset Management LLC now owns 4,943,260 shares of the biopharmaceutical company’s stock worth $3,311,000 after purchasing an additional 192,385 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Sangamo Therapeutics by 58.8% during the second 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. Institutional investors 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.