Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down - Here's What Happened

Sangamo Therapeutics, Inc. (NASDAQ:SGMO - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $2.47, but opened at $2.34. Sangamo Therapeutics shares last traded at $2.53, with a volume of 1,295,990 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on SGMO shares. Barclays upped their price target 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. StockNews.com upgraded shares of Sangamo Therapeutics from a "hold" rating to a "buy" rating in a research report on Monday, December 16th. HC Wainwright reissued a "buy" rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research note on Thursday. Finally, Truist Financial upgraded shares of Sangamo Therapeutics from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Sangamo Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

Sangamo Therapeutics Stock Performance

The company has a market capitalization of $498.67 million, a price-to-earnings ratio of -3.19 and a beta of 1.15. The business's 50-day simple moving average is $1.97 and its 200-day simple moving average is $1.14.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share 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 for the quarter, compared to analyst estimates of $26.55 million. During the same period in the prior year, the business posted ($0.34) earnings per share. On average, analysts forecast that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Sangamo Therapeutics in the third quarter valued at about $150,000. Geode Capital Management LLC raised its position in shares of Sangamo Therapeutics by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company's stock valued at $1,853,000 after acquiring an additional 272,123 shares during the period. XTX Topco Ltd raised its position 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 acquiring an additional 64,981 shares during the period. State Street Corp boosted its stake in Sangamo Therapeutics by 28.0% during the 3rd quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company's stock worth $576,000 after acquiring an additional 145,400 shares during the last quarter. Finally, FMR LLC grew its holdings in Sangamo Therapeutics by 16.5% during the third quarter. FMR LLC now owns 544,003 shares of the biopharmaceutical company's stock valued at $471,000 after purchasing an additional 77,032 shares during the period. 56.93% of the stock is 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.