Sangamo Therapeutics (NASDAQ:SGMO) Upgraded to "Buy" at Truist Financial

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) was upgraded by stock analysts at Truist Financial from a "hold" rating to a "buy" rating in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $7.00 price objective on the biopharmaceutical company's stock. Truist Financial's target price indicates a potential upside of 241.46% from the stock's previous close.

Several other analysts have also recently weighed in on SGMO. Barclays increased their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a research report on Tuesday. Finally, StockNews.com cut Sangamo Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $7.00.

Sangamo Therapeutics Stock Performance

Shares of SGMO traded up $0.14 during trading hours on Friday, hitting $2.05. 7,796,875 shares of the stock were exchanged, compared to its average volume of 6,787,924. The stock's 50-day moving average price is $1.78 and its two-hundred day moving average price is $1.06. Sangamo Therapeutics has a 12-month low of $0.30 and a 12-month high of $3.18. The company has a market cap of $427.73 million, a price-to-earnings ratio of -2.70 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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.07. The business had revenue of $49.41 million during 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 quarter in the prior year, the firm earned ($0.34) earnings per share. On average, research analysts expect that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of hedge funds have recently made changes to their positions in SGMO. Cubist Systematic Strategies LLC purchased a new position in Sangamo Therapeutics in the 2nd quarter valued at approximately $67,000. Meritage Portfolio Management boosted its holdings in Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 6,740 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sangamo Therapeutics during the 2nd quarter worth $89,000. XTX Topco Ltd increased its holdings in Sangamo Therapeutics by 167.8% during the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company's stock worth $90,000 after purchasing an additional 64,981 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position 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 in the last quarter. Hedge funds and other institutional investors own 56.93% of the company's stock.

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.