Sangamo Therapeutics (NASDAQ:SGMO) Earns “Buy” Rating from HC Wainwright

Sangamo Therapeutics (NASDAQ:SGMO)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $10.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 318.41% from the stock’s current price.

Other analysts have also issued reports about the company. Barclays boosted 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. StockNews.com raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Truist Financial upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Sangamo Therapeutics Stock Up 1.7 %

Shares of SGMO traded up $0.04 on Thursday, hitting $2.39. The company’s stock had a trading volume of 15,886,307 shares, compared to its average volume of 6,890,820. The firm’s fifty day moving average price is $1.91 and its 200-day moving average price is $1.11. Sangamo Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $3.18. The firm has a market capitalization of $498.67 million, a price-to-earnings ratio of -3.19 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings results 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 company had revenue of $49.41 million during the quarter, compared to analysts’ expectations of $26.55 million. During the same quarter in the prior year, the company earned ($0.34) earnings per share. As a group, equities analysts predict that Sangamo Therapeutics will post -0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SGMO. Renaissance Technologies LLC boosted its holdings in shares of 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 period. Marshall Wace LLP lifted its position 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 acquiring an additional 207,476 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sangamo Therapeutics by 55.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 38,850 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Sangamo Therapeutics during the second quarter worth approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Sangamo Therapeutics in the 2nd quarter valued at $89,000. 56.93% of the stock is currently 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.