Sangamo Therapeutics (NASDAQ:SGMO) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Sangamo Therapeutics (NASDAQ:SGMO - Free Report) from a buy rating to a hold rating in a research report report published on Friday.

SGMO has been the subject of several other research reports. HC Wainwright reaffirmed a "buy" rating and set a $10.00 price objective on shares of Sangamo Therapeutics in a report on Thursday, November 14th. Barclays increased their price target on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th.

Sangamo Therapeutics Stock Up 2.0 %

NASDAQ:SGMO traded up $0.04 during trading hours on Friday, reaching $2.01. The company had a trading volume of 4,182,879 shares, compared to its average volume of 6,827,741. The stock has a 50-day moving average of $1.66 and a two-hundred day moving average of $1.01. Sangamo Therapeutics has a one year low of $0.30 and a one year high of $3.18. The firm has a market capitalization of $419.39 million, a PE ratio of -2.68 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) last issued its 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. The company had revenue of $49.41 million for the quarter, compared to the consensus estimate of $26.55 million. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. During the same quarter in the previous year, the company earned ($0.34) EPS. As a group, sell-side analysts expect that Sangamo Therapeutics will post -0.52 earnings per share for the current year.

Institutional Trading of Sangamo Therapeutics

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in Sangamo Therapeutics by 58.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company's stock worth $1,479,000 after purchasing an additional 1,528,600 shares during the last quarter. Marshall Wace LLP raised its position in shares of Sangamo Therapeutics by 56.3% during the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company's stock worth $207,000 after acquiring an additional 207,476 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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 acquiring an additional 38,850 shares during the period. Cubist Systematic Strategies LLC bought a new position in Sangamo Therapeutics in the second quarter valued at about $67,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Sangamo Therapeutics in the second quarter valued at about $89,000. 56.93% of the stock is owned by 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.