Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down – Here’s What Happened

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $2.47, but opened at $2.34. Sangamo Therapeutics shares last traded at $2.53, with a volume of 1,295,990 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SGMO. StockNews.com raised Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Truist Financial raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research note on Thursday. Finally, Barclays raised their price objective 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Sangamo Therapeutics Price Performance

The stock has a market cap of $515.36 million, a price-to-earnings ratio of -3.29 and a beta of 1.15. The stock’s 50-day moving average is $1.97 and its 200-day moving average is $1.14.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The firm had revenue of $49.41 million for the quarter, compared to analysts’ expectations of $26.55 million. During the same quarter last year, the firm earned ($0.34) earnings per share. Analysts predict that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Sangamo Therapeutics

Several hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in Sangamo Therapeutics in the 2nd quarter valued at about $67,000. Meritage Portfolio Management boosted its stake in shares of Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 6,740 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sangamo Therapeutics during the second quarter worth approximately $89,000. XTX Topco Ltd increased its stake in shares of Sangamo Therapeutics by 167.8% in the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 64,981 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Sangamo Therapeutics by 55.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 38,850 shares during the last quarter. 56.93% of the stock is currently owned by hedge funds and other institutional investors.

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.