Research Analysts Offer Predictions for SGMO FY2024 Earnings

Sangamo Therapeutics, Inc. (NASDAQ:SGMO - Free Report) - Research analysts at HC Wainwright reduced their FY2024 earnings estimates for shares of Sangamo Therapeutics in a research note issued to investors on Monday, January 27th. HC Wainwright analyst P. Trucchio now expects that the biopharmaceutical company will post earnings per share of ($0.49) for the year, down from their prior forecast of ($0.43). HC Wainwright has a "Buy" rating and a $10.00 price target on the stock. The consensus estimate for Sangamo Therapeutics' current full-year earnings is ($0.47) per share. HC Wainwright also issued estimates for Sangamo Therapeutics' Q4 2024 earnings at ($0.11) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at $0.01 EPS, FY2025 earnings at ($0.08) EPS, FY2026 earnings at ($0.17) EPS, FY2027 earnings at ($0.02) EPS, FY2028 earnings at $0.19 EPS and FY2029 earnings at $0.42 EPS.

A number of other brokerages also recently issued reports on SGMO. Truist Financial cut their price objective on shares of Sangamo Therapeutics from $7.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Barclays lifted their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Wells Fargo & Company cut their price objective on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 31st. StockNews.com downgraded shares of Sangamo Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, December 24th. Finally, Jefferies Financial Group cut their price objective on shares of Sangamo Therapeutics from $7.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, December 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Sangamo Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $5.17.

Sangamo Therapeutics Price Performance

Shares of NASDAQ:SGMO traded up $0.10 during trading hours on Wednesday, hitting $1.23. The company's stock had a trading volume of 6,111,812 shares, compared to its average volume of 5,998,031. Sangamo Therapeutics has a 52 week low of $0.30 and a 52 week high of $3.18. The company has a market capitalization of $256.64 million, a price-to-earnings ratio of -1.64 and a beta of 1.29. The firm's fifty day moving average price is $1.76 and its 200 day moving average price is $1.33.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 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 business had revenue of $49.41 million during the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the previous year, the business posted ($0.34) EPS.

Institutional Trading of Sangamo Therapeutics

Several large investors have recently made changes to their positions in the business. Meritage Portfolio Management boosted its holdings in shares of Sangamo Therapeutics by 8.6% in the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company's stock valued at $74,000 after acquiring an additional 6,740 shares during the last quarter. Shelton Wealth Management LLC acquired a new position in shares of Sangamo Therapeutics in the 4th quarter valued at $29,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sangamo Therapeutics by 55.4% in 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. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $956,000 after purchasing an additional 57,125 shares during the period. Finally, Sageworth Trust Co acquired a new position in shares of Sangamo Therapeutics in the 4th quarter valued at $61,000. 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.