Sangamo Therapeutics (NASDAQ:SGMO) Raised to “Buy” at StockNews.com

Sangamo Therapeutics (NASDAQ:SGMO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other brokerages also recently weighed in on SGMO. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a report on Tuesday, December 10th. Truist Financial upgraded 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 report on Friday, December 13th. Finally, Barclays upped their target price on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Sangamo Therapeutics Stock Performance

SGMO stock opened at $2.82 on Monday. The business’s 50-day moving average is $1.88 and its two-hundred day moving average is $1.10. The company has a market cap of $588.38 million, a price-to-earnings ratio of -3.76 and a beta of 1.15. Sangamo Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. The company had revenue of $49.41 million during the quarter, compared to analyst estimates of $26.55 million. During the same period in the previous year, the business posted ($0.34) earnings per share. Equities analysts predict that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Meritage Portfolio Management boosted its holdings in shares of Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 6,740 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Sangamo Therapeutics by 55.4% during the third 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings in Sangamo Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after buying an additional 57,125 shares in the last quarter. XTX Topco Ltd increased its stake in Sangamo Therapeutics by 167.8% in the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 64,981 shares during the last quarter. Finally, Golden State Equity Partners increased its position in Sangamo Therapeutics by 35.2% in the third quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 69,368 shares during the last quarter. 56.93% of the stock is owned by hedge funds and other institutional investors.

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.