Sangamo Therapeutics (NASDAQ:SGMO) Reaches New 1-Year High Following Analyst Upgrade

Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) reached a new 52-week high on Wednesday after HC Wainwright raised their price target on the stock from $5.00 to $10.00. HC Wainwright currently has a buy rating on the stock. Sangamo Therapeutics traded as high as $2.45 and last traded at $2.44, with a volume of 8196817 shares traded. The stock had previously closed at $2.16.

Separately, StockNews.com assumed coverage on shares of Sangamo Therapeutics in a research note on Sunday, July 28th. They issued a “sell” rating for the company.

Institutional Trading of Sangamo Therapeutics

A number of large investors have recently bought and sold shares of SGMO. State Board of Administration of Florida Retirement System boosted its position in shares of Sangamo Therapeutics by 61.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 23,650 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Sangamo Therapeutics in the second quarter worth $67,000. Meritage Portfolio Management grew its position in Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 6,740 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sangamo Therapeutics during the second quarter valued at approximately $89,000. Finally, Wealth Enhancement Advisory Services LLC boosted 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 valued at $94,000 after buying an additional 38,850 shares during the period. 56.93% of the stock is owned by hedge funds and other institutional investors.

Sangamo Therapeutics Trading Up 13.8 %

The business’s fifty day simple moving average is $1.12 and its 200-day simple moving average is $0.78. The firm has a market cap of $585.10 million, a P/E ratio of -2.04 and a beta of 1.10.

Sangamo Therapeutics (NASDAQ:SGMO) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Sangamo Therapeutics had a negative net margin of 2,033.69% and a negative return on equity of 273.25%. The firm had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $11.40 million. Analysts anticipate that Sangamo Therapeutics, Inc. will post -0.47 earnings per share for the current year.

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.