Wells Fargo & Company Cuts Sangamo Therapeutics (NASDAQ:SGMO) Price Target to $2.00

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) had its target price lowered by equities research analysts at Wells Fargo & Company from $3.00 to $2.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's target price indicates a potential upside of 96.08% from the stock's previous close.

SGMO has been the topic of several other research reports. StockNews.com cut shares of Sangamo Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, December 24th. HC Wainwright reissued a "buy" rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research report on Thursday, December 19th. Barclays boosted their target price on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Finally, Truist Financial raised shares of Sangamo Therapeutics from a "hold" rating to a "buy" rating and set a $7.00 price target for the company in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Sangamo Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $5.50.

Sangamo Therapeutics Stock Performance

Shares of NASDAQ:SGMO traded down $1.32 during trading on Tuesday, reaching $1.02. 44,415,211 shares of the stock were exchanged, compared to its average volume of 7,095,709. The firm's 50-day moving average price is $2.16 and its 200 day moving average price is $1.22. The firm has a market cap of $212.82 million, a price-to-earnings ratio of -1.36 and a beta of 1.15. Sangamo Therapeutics has a 12-month low of $0.30 and a 12-month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.07. The company had revenue of $49.41 million during 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 period in the previous year, the firm earned ($0.34) earnings per share. As a group, equities research analysts forecast that Sangamo Therapeutics will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in shares of Sangamo Therapeutics by 58.8% in the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company's stock valued at $1,479,000 after acquiring an additional 1,528,600 shares in the last quarter. Geode Capital Management LLC lifted its position 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 worth $1,853,000 after purchasing an additional 272,123 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 57,125 shares in the last quarter. State Street Corp increased its position in shares of Sangamo Therapeutics by 28.0% during 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 period. Finally, Marshall Wace LLP lifted its holdings in shares of Sangamo Therapeutics by 56.3% in the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company's stock valued at $207,000 after buying an additional 207,476 shares during the period. 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.