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

Sangamo Therapeutics, Inc. (NASDAQ:SGMO - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $2.65, but opened at $2.54. Sangamo Therapeutics shares last traded at $2.74, with a volume of 816,461 shares changing hands.

Analyst Upgrades and Downgrades

SGMO has been the subject of several research reports. Barclays lifted their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an "overweight" rating in a research 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 price objective for the company in a report on Friday. StockNews.com upgraded shares of Sangamo Therapeutics from a "hold" rating to a "buy" rating in a report on Monday. Finally, HC Wainwright reissued a "buy" rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $7.00.

Sangamo Therapeutics Stock Up 6.6 %

The stock has a 50-day moving average price of $1.88 and a 200 day moving average price of $1.10. The firm has a market capitalization of $588.38 million, a price-to-earnings ratio of -3.76 and a beta of 1.15.

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

Hedge Funds Weigh In On Sangamo Therapeutics

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in Sangamo Therapeutics by 58.8% during the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company's stock worth $1,479,000 after buying an additional 1,528,600 shares during the last quarter. Marshall Wace LLP lifted its stake in 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 purchasing an additional 207,476 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sangamo Therapeutics by 55.4% in the third 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Sangamo Therapeutics in the second quarter valued at approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Sangamo Therapeutics in the second quarter valued at approximately $89,000. Hedge funds and other institutional investors 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.