Massachusetts Financial Services Co. MA Trims Stake in Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

Massachusetts Financial Services Co. MA cut its stake in shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 193,762 shares of the biopharmaceutical company’s stock after selling 4,692 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Sangamo Therapeutics were worth $168,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake 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 worth $42,000 after buying an additional 23,650 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Sangamo Therapeutics in the 2nd quarter worth approximately $67,000. Meritage Portfolio Management increased its stake 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 worth $74,000 after purchasing an additional 6,740 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sangamo Therapeutics in the second quarter worth $89,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of 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 purchasing an additional 38,850 shares during the period. Institutional investors own 56.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SGMO. StockNews.com upgraded Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, November 14th. Finally, Barclays lifted their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th.

Sangamo Therapeutics Stock Up 7.5 %

Shares of Sangamo Therapeutics stock opened at $2.30 on Thursday. Sangamo Therapeutics, Inc. has a twelve month low of $0.30 and a twelve month high of $3.18. The business has a 50-day moving average price of $1.48 and a 200-day moving average price of $0.94. The firm has a market cap of $479.89 million, a price-to-earnings ratio of -3.07 and a beta of 1.10.

Sangamo Therapeutics (NASDAQ:SGMO) last released 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. The business had revenue of $49.41 million during the quarter, compared to analysts’ expectations 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 last year, the business posted ($0.34) EPS. On average, equities analysts expect that Sangamo Therapeutics, Inc. will post -0.52 EPS for the current fiscal year.

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.