Sangamo Therapeutics (NASDAQ:SGMO) Stock Price Down 5% – Should You Sell?

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s stock price was down 5% during mid-day trading on Wednesday . The company traded as low as $2.65 and last traded at $2.68. Approximately 1,238,816 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 6,817,947 shares. The stock had previously closed at $2.82.

Wall Street Analyst Weigh In

Several brokerages have commented on SGMO. Barclays boosted their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. StockNews.com upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday. 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 research report on Friday, December 13th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Sangamo Therapeutics Trading Down 1.7 %

The company has a market capitalization of $481.97 million, a P/E ratio of -3.08 and a beta of 1.15. The stock has a 50 day moving average price of $1.94 and a 200 day moving average price of $1.12.

Sangamo Therapeutics (NASDAQ:SGMO) last announced 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 return on equity of 264.16% and a negative net margin of 257.87%. During the same period last year, the firm posted ($0.34) earnings per share. On average, research analysts predict that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several large investors have recently modified their holdings of SGMO. Renaissance Technologies LLC increased its stake in shares of 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 buying an additional 1,528,600 shares during the period. Marshall Wace LLP lifted its stake in shares of Sangamo Therapeutics by 56.3% in 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 period. Cubist Systematic Strategies LLC bought a new stake in Sangamo Therapeutics in the second quarter valued at approximately $67,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sangamo Therapeutics during the 2nd quarter valued at approximately $89,000. Finally, Vontobel Holding Ltd. raised its holdings in Sangamo Therapeutics by 412.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after purchasing an additional 241,440 shares during the last quarter. 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.