Sangamo Therapeutics (NASDAQ:SGMO) Stock Price Down 6.3% - Here's What Happened

Sangamo Therapeutics, Inc. (NASDAQ:SGMO - Get Free Report)'s stock price was down 6.3% during trading on Monday . The company traded as low as $2.34 and last traded at $2.40. Approximately 1,574,041 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 6,876,316 shares. The stock had previously closed at $2.56.

Analysts Set New Price Targets

Several analysts have weighed in on SGMO shares. HC Wainwright reaffirmed a "buy" rating and set a $10.00 price objective on shares of Sangamo Therapeutics in a research note on Thursday, December 19th. Truist Financial raised 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. StockNews.com lowered Sangamo Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, December 24th. Finally, Barclays increased their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $7.00.

Sangamo Therapeutics Stock Performance

The firm's 50-day moving average is $2.13 and its two-hundred day moving average is $1.21. The stock has a market cap of $488.23 million, a P/E ratio of -3.12 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $49.41 million during the quarter, compared to the consensus estimate of $26.55 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. As a group, research analysts forecast that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SGMO. Cubist Systematic Strategies LLC bought a new stake in shares of Sangamo Therapeutics during the second quarter worth approximately $67,000. Meritage Portfolio Management grew its holdings in Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company's stock worth $74,000 after acquiring an additional 6,740 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sangamo Therapeutics during the 2nd quarter valued at $89,000. XTX Topco Ltd lifted its stake 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 valued at $90,000 after purchasing an additional 64,981 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position 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 worth $94,000 after purchasing an additional 38,850 shares during the last quarter. 56.93% of the stock is currently owned by institutional investors and hedge funds.

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.