Sangamo Therapeutics (NASDAQ:SGMO) Stock Rating Upgraded by StockNews.com

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Monday.

A number of other equities research analysts have also recently weighed in on the company. Barclays raised their price target on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Truist Financial upgraded Sangamo Therapeutics from a "hold" rating to a "buy" rating and set a $7.00 target price on the stock in a report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

Sangamo Therapeutics Stock Performance

Shares of NASDAQ:SGMO traded up $0.59 on Monday, hitting $2.64. The stock had a trading volume of 18,677,547 shares, compared to its average volume of 6,837,080. The firm's 50 day moving average price is $1.84 and its 200-day moving average price is $1.09. Sangamo Therapeutics has a twelve month low of $0.30 and a twelve month high of $3.18. The company has a market capitalization of $550.84 million, a price-to-earnings ratio of -3.52 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.07. The firm had revenue of $49.41 million for the quarter, compared to analyst estimates 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 business earned ($0.34) earnings per share. As a group, sell-side analysts predict that Sangamo Therapeutics will post -0.46 EPS for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SGMO. Renaissance Technologies LLC boosted its holdings in 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 during the last quarter. Geode Capital Management LLC raised its holdings in Sangamo Therapeutics by 14.6% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. lifted its position 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 during the period. State Street Corp boosted its stake in shares of Sangamo Therapeutics by 28.0% in 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 last quarter. Finally, Marshall Wace LLP grew its position in shares of Sangamo Therapeutics by 56.3% during the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company's stock worth $207,000 after buying an additional 207,476 shares during the period. 56.93% of the stock is owned by institutional investors and hedge funds.

About Sangamo Therapeutics

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.

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