Sangamo Therapeutics (NASDAQ:SGMO) Shares Down 5% - Should You Sell?

Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO - Get Free Report) traded down 5% on Wednesday . The stock traded as low as $2.65 and last traded at $2.68. 1,238,816 shares were traded during mid-day trading, a decline of 82% from the average session volume of 6,817,947 shares. The stock had previously closed at $2.82.

Analysts Set New Price Targets

SGMO has been the subject of several research analyst reports. StockNews.com raised Sangamo Therapeutics from a "hold" rating to a "buy" rating in a research report on Monday. Barclays raised their price objective 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. Truist Financial upgraded shares of Sangamo Therapeutics from a "hold" rating to a "buy" rating and set a $7.00 target price on the stock in a research note on Friday, December 13th. Finally, HC Wainwright restated a "buy" rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Sangamo Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

Sangamo Therapeutics Stock Performance

The firm has a market capitalization of $490.32 million, a P/E ratio of -3.13 and a beta of 1.15. The stock has a 50 day moving average of $1.91 and a 200-day moving average of $1.11.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. As a group, sell-side analysts expect that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of large investors have recently made changes to their positions in SGMO. Meritage Portfolio Management grew its stake in Sangamo Therapeutics by 8.6% during the third 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 in the last quarter. XTX Topco Ltd boosted its holdings in Sangamo Therapeutics by 167.8% in the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company's stock valued at $90,000 after purchasing an additional 64,981 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in 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. Virtu Financial LLC purchased a new position in shares of Sangamo Therapeutics during the 3rd quarter valued at $150,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Sangamo Therapeutics in the second quarter worth $67,000. 56.93% of the stock is owned by institutional investors.

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.