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

StockNews.com upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Several other brokerages have also recently issued reports on SGMO. Barclays raised their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research report on Thursday.

Sangamo Therapeutics Price Performance

SGMO opened at $2.05 on Thursday. The stock has a market capitalization of $427.73 million, a PE ratio of -2.73 and a beta of 1.10. The firm’s fifty day moving average price is $1.33 and its 200 day moving average price is $0.87. Sangamo Therapeutics has a 12-month low of $0.30 and a 12-month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data 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. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The firm 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 company earned ($0.34) earnings per share. On average, equities research analysts forecast that Sangamo Therapeutics will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in Sangamo Therapeutics by 14.6% in the third quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after buying an additional 272,123 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of 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 period. State Street Corp lifted its position in Sangamo Therapeutics by 28.0% in the 3rd quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock valued at $576,000 after purchasing an additional 145,400 shares during the last quarter. FMR LLC boosted its stake in Sangamo Therapeutics by 16.5% during the 3rd quarter. FMR LLC now owns 544,003 shares of the biopharmaceutical company’s stock valued at $471,000 after purchasing an additional 77,032 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Sangamo Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock worth $956,000 after purchasing an additional 57,125 shares during the last quarter. Institutional investors and hedge funds own 56.93% of the company’s stock.

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.